Justicia Shipena
Mine workers at Rosh Pinah Zinc Corporation will now be able to buy Namitvest shares through salary deductions. This follows the signing of a Payroll Deduction Agreement between the company and Namitvest this week.
The deal allows Mine Workers Union of Namibia (MUN) members employed at the mine to purchase shares at a 50% discount and repay the cost through interest-free installments over 60 months.
Workers will keep full ownership of the shares they have paid off even if they leave the mine.
The agreement aims to enhance worker participation and expand access to investment opportunities in the mining sector.
At the signing ceremony, Mekondjo Erastus, Namitvest director, highlighted the long-standing empowerment efforts linked to union investments.
“Namitvest, holding a 25% stake in NAMMIC Holdings, continues to strengthen this legacy of empowerment built by the MUN,” he said.
He said NAMMIC’s growth provides the foundation for Namitvest’s continued expansion, driven by the workers’ interests at the centre.
MUN southern regional chairperson Allen Mayemelo Kalumbu described the agreement as a link between economic opportunity and fairness.
“It enables MUN members to become active participants in wealth creation and ensures that progress is shared fairly within our mining sector,” he said.
MUN assistant general secretary and Namitvest director Paulus Situmba said the deal shifts how workers are viewed.
“For too long, workers have been seen only as employees. This agreement acknowledges MUN members as stakeholders and co-owners, giving them control over part of their financial future,” he said.
Rosh Pinah Zinc’s acting general manager, Roelof Pretorius, said the company supports initiatives that give workers long-term value.
“The payroll deduction agreement we are signing today reinforces this belief. It ensures that our employees, who dedicate their skill and energy to this company every day, can now participate in an investment that builds long-term financial security and ownership,” she said.
The company said it would continue to support programmes that help build community growth and improve the well-being of its workers.
The agreement is expected to benefit mine workers, their families and the wider Rosh Pinah community by expanding access to investment and ownership.
Namitvest owns a 25% stake in NAMMIC Holdings, with a valuation exceeding N$800 million.
NAMMIC has invested across several sectors through partnerships with companies such as Capricorn, B2Gold, Walvis Bay Salt and Avis.
Shareholders have already received dividends in November 2024 and April 2025, with another payout due in December.
They also receive benefits through the MyGateway app, which offers retail discounts, airtime bonuses and other rewards.
Caption
Roelof Pretorius, acting general manager at Rosh Pinah Zinc, and Mekondjo Erastus, Namitvest director, Allen Mayemelo Kalumbu, MUN southern regional chairperson and Namitvest chairperson and Paulus Situmba, assistant general secretary of the Mine Workers Union and Namitvest director at the signing ceremony.
