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Namibia: Unions Score Big From Assurer
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New Era (Windhoek)
9 May 2008
Posted to the web 9 May 2008
Windhoek
Metropolitan Namibia has paid the biggest ever profit to a union, giving N$500 000 to the Namibia National Teachers Union (NANTU).
Metropolitan shares its profits with unions depending on the volume of business generated from union members. For the financial year ended 31 December 2007, three unions received a share of N$610 000 from the company's profit.
The Namibia Public Workers Union (NAPWU) and the Public Service Union of Namibia (PSUN) received N$50 000. The Teachers' Union of Namibia (TUN) received N$10 000.
The profit sharing scheme with trade unions has been in operation since 2000 and has resulted in nearly N$2 million being handed to participating trade unions.
Of all unions that give business to Metropolitan, NANTU has been receiving the highest amount of money in the last five years - N$100 000 a year.
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"Despite a volatile and competitive market environment with continuous economic pressure, Metropolitan Namibia is satisfied with the returns on investment and is pleased once again to plough back profits to its partner trade unions," said Rudolf Himarwa, the Head of Marketing and Sales at Metropolitan Namibia.
Himarwa said the shares of profit for NANTU, PSUN and TUN have been steady and consistent over the past few years.
"There is, however, still room for further business opportunities and Metropolitan Namibia would like to invite trade unions who did not share in profit this year to strengthen their relationship with the company in future," said Himarwa.
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