NAMITVest Investment Holdings launched – MUN members and dependents empowered through investment opportunity
NAM-MIC Holdings can now move ahead to satisfy long outstanding expectations of members and their dependents by offering its beneficiaries direct interest of 25% of its N495.3 million through Just Transition Trust and NAMITVest Investment Holdings (Pty) Ltd.
This was announced at the launch of NAMITVest Investment Holdings in Windhoek held last week.
“Having prudently grown the NAM-MIC portfolio to a level of significance, the Mine Union of Namibia (MUN) Trust being the 100% shareholder of NAM-MIC will now dilute 25% of its shareholding in NAM-MIC valued at N$103 million to a targeted database of 37,000 members, ex-members and their dependents through a special purpose vehicle called NAMITVest,” Jason Kasuto, NAMITVest Management said at the launch.
According to Kasuto, these beneficiaries will have an opportunity to subscribe for units at a 50% discount rate.
“The launch of NAMITVest is an extensive broad-based empowerment initiative that aims to build the investment portfolio of members, build generational wealth for our members and their dependents and create a buffer that mitigates the impact of job losses due to economic shocks experienced in the mining sector from time to time,” he added.
NAM-MIC Holdings MD, Jacob Nghifinda meanwhile encouraged members to actively participate and support the business activities of NAM-MIC, NAMITVest, other subsidiaries and its associate companies to grow what is ours.