Staff Writer
Erongo Red employees will now be able to invest through salary deductions after the company recently formalised a payroll deduction agreement with NAMITVEST at its head office in Walvis Bay.
The initiative allows Erongo Red employees, especially members and former members of the Mineworkers Union of Namibia (MUN) and their dependents, to invest in Just Transition Investment (JTT) Namibia Limited through automatic deductions from their salaries.
It creates a structured pathway for workers to build personal wealth, accumulate assets, and participate in the company’s growth.
NAMITVEST principal officer Jason Kasuto said the payroll initiative “ensures financial security through asset accumulation and investment returns.”
Erongo Red chief executive officer Immanuel Hanabeb said in a speech delivered by executive manager for supply Claude Tjizo that the company’s responsibility goes beyond electricity supply.
“As an employer, our responsibility goes beyond providing reliable electricity to our communities. We are equally committed to supporting initiatives that enhance the socio-economic well-being of our workforce. The establishment of this payroll deduction facility ensures that employees can participate in an investment initiative that promotes financial growth and long-term stability,” he said.
MUN general secretary George Ampweya, speaking on behalf of union president Poco-Key Mberiuana, welcomed the agreement.
“The agreement strengthens the relationship between employees and their employer while supporting members’ financial aspirations. This partnership is about shaping a future where our members can thrive both professionally and personally,” he said.
Employees who become shareholders will receive dividends through a transparent and well-communicated process, reinforcing accountability and long-term financial planning.
NAMITVEST and Erongo RED are collaborating to create financial opportunities for workers and their families.
Payroll deductions are expected to simplify access to investment, strengthen employees’ sense of ownership, and lay the foundation for generational wealth.
