The Namibia Mineworkers Investment Trust (Namitvest) has signed a payroll deduction agreement with Spar Oranjemund aimed at creating generational wealth for mineworkers.

The agreement enables members of the Mineworkers Union of Namibia (MUN) to invest directly in Just Transition Investments (JTI) - an investment company dedicated to advancing employees' financial growth.

Through the initiative, investments will be made via automatic salary deductions over 60 months, allowing both current and former MUN members, as well as their dependants, to build wealth and become shareholders.

Namitvest has issued 10 million shares of which 6.3 million have already been taken up, reflecting strong interest from MUN members.

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Spar Oranjemund manager Arthur Conry is encouraging employees to seize the opportunity, noting the long-term benefits of participation.

"The share value at this stage is N$15 per share, but members will receive it at a discounted price of N$8.48 per share. Given the growth trajectory of these shares, the chance to invest at this price and gain financial stability for years to come won't last forever," he says.

Namitvest principal officer and managing director of Monasa Advisory and Associates Jason Kasuto has highlighted the broader vision of the partnership.

"We are not only imagining a future of financial freedom for employees, but taking steps to make that future possible. This agreement marks a defining milestone in our shared journey toward economic empowerment and inclusive growth," he says.

Spar Oranjemund secretary Kristian Nikodemus says: "By equipping our workforce with the tools to achieve greater financial security, we are also strengthening our communities, contributing to national growth, and ensuring that Namibia's prosperity benefits those who work tirelessly for it."