The Mineworkers Union of Namibia (MUN), in collaboration with the Namibia Mineworkers Investment Trust (Namit), launched a series of new benefits for its approximately 10 000 members at Swakopmund yesterday.
These benefits, tailored to the educational, employment, and legal needs of miners, include Namitvest, enabling miners, ex-miners, and their descendants to invest in stocks.
“Our goal extends beyond favourable working conditions. We aim for miners to reap benefits beyond their employment years,” MUN president Ismael Kasuto said at the launch.
The Namit Education Fund assists dependants of MUN members and ex-members in pursuing higher education courses at various institutions within Namibia.
Applications for the fund opened on 1 November, and will remain open until 15 January.
“We resonate with former minister Abraham Iyambo’s belief that ‘education is the greatest equaliser’. We’re proud to support our members and their descendants in embarking on life-changing educational journeys,” Kasuto said.
The Namit SME Fund caters to micro, small en medium enterprises (MSMEs) owned by registered members, ex-members (as of 1 June 2020), and their dependants, offering up to N$150 000 with a three-month repayment plan.
Managed by Bellatrix Investment Managers, this fund aims to strengthen member-owned economic activities.
“Given the volatile nature of mining commodities, we strive to provide our members with a strong economic foundation. Access to credit can be crucial for MSMEs, and this fund represents our confidence in our members,” said MUN general secretary George Ampweya.
The third addition, the Namit Legal Plan, provides legal services to registered MUN members, ex-members, and their descendants, marking MUN as the first union in Namibia to offer comprehensive legal coverage to its members.
Kasuto said members’ contribution to the MUN would not be affected.
The launch event saw participation from the MUN leadership, Namit management, and David Clark, a representative from Legalwise, the technical partners from South Africa.
The union emphasised its commitment to inclusivity and diversity, highlighting its dedicated women’s desk and the opportunity for miners to invest in stocks.
