Namdeb, NAMITVEST pen investment deal

Namdeb, NAMITVEST Investment Holdings, and the Mineworkers Union of Namibia (MUN) recently signed a payroll deduction agreement that allows Namdeb's employees to invest directly in NAMITVEST products through monthly salary deductions.

The agreement creates a structured and accessible mechanism for mineworkers to build wealth beyond their monthly wage, with the process designed to be affordable, voluntary, and compliant with labour regulations.

NAMITVEST is an investment vehicle owned directly by members, former members, and descendants of the MUN. It holds a 25% stake in NAMMIC Holdings, the commercial arm of the MUN established in 1997. Since November 2024, NAMITVEST has declared dividends on three occasions, benefiting 2,600 shareholders, with a fourth dividend scheduled for 5 June 2026.

Acting MUN president Poco-Key Mberiuana said the agreement was about building generational wealth.

"For a decade we have been fighting for our members' fair wages. While we have a long way to go in teaching our members to save and invest, with daily needs that are rife, we have an obligation to educate our members to build generational wealth," he said.

Mberiuana added that the platform had been designed with accessibility in mind.

"This is more than an agreement — it removes obstacles and creates channels with dignity. Participating employees will be able to allocate a portion of their monthly salaries toward share subscriptions in a seamless and secure manner," he said.

NAMITVEST chairperson Mayemelo Kalumbu said the initiative was aimed squarely at those who had long been excluded from investment opportunities.

"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.

Namdeb CEO Riaan Burger said the company's success was tied to the prosperity of its employees.

"This is an enabling platform to participate in long-term wealth creation and help them to invest in a way that is sustainable. By facilitating payroll deductions, we are removing barriers and making it easier for our employees to invest, plan, and secure their financial futures," he said.

The agreement is effective immediately, with enrolment on a voluntary basis.