Namibia: Namdeb, NAMITVEST, MUN Drive Mining Investment

Namdeb, NAMITVEST Investment Holdings, and the Mineworkers Union of Namibia (MUN) have united to improve access to investment opportunities for mineworkers.

The partnership seeks to enhance financial inclusion, savings, and wealth building among employees. The collaboration was formalised through the signing of a Payroll Deduction Agreement at Namdeb's head office in Windhoek.

The agreement enables employees to invest directly in NAMITVEST products via automatic payroll deductions, making the process straightforward, cost effective, and secure.

NAMITVEST, which is 25% owned by MUN members, ex-members, and their descendants, has already declared dividends three times and will announce a fourth on 5 June, benefiting 2,600 shareholders. The initiative is designed to help mineworkers move beyond living from monthly wages to building long-term financial security for themselves and their families.

Acting MUN President Poco- Key Mberiuana highlighted the importance of financial education for members.

"For a decade, we have fought for fair wages and financial support. Now we must teach our members to save and invest. This agreement removes obstacles and creates dignified channels. It allows our members to allocate a portion of their salaries toward share subscriptions in a seamless and secure manner," he said. Mayemelo Kalumbu, Chairperson of NAMITVEST, emphasised the broader economic benefits.

"Workers are not only seeking income; they are seeking security, dignity, and a future that extends beyond their working years. This partnership ensures that workers are not just participants in the economy but active stakeholders in wealth creation," he said.

Representing the employer, Namdeb CEO Riaan Burger reaffirmed Namdeb's commitment to its workforce. "We are marking a very important milestone. By facilitating payroll deductions, we are removing barriers and helping employees plan for their financial futures. Financial empowerment is a critical pillar for sustainable growth," he said.

The agreement is effective immediately, with enrolment voluntary for employees.

Observers say the initiative is expected to strengthen share ownership among mineworkers, improve financial resilience, and foster a culture of wealth creation in Namibian mining communities.

Read the original article on New Era.