Namdeb Diamond Corporation has signed a payroll deduction investment agreement with Namitvest, allowing employees to acquire shares through structured salary deductions in a move aimed at improving long-term financial participation.
Under the arrangement, employees will be able to purchase shares in Namitvest over a period of up to 60 months, significantly easing upfront costs and widening access to investment opportunities.
Namdeb Chief Executive Officer Riaan Burger said the agreement is designed to promote disciplined savings and long-term wealth creation among employees.
“This partnership goes beyond an administrative arrangement. It creates a pathway for employees to participate in long-term wealth creation by investing in a disciplined and sustainable manner,” he said.
Employees who opt for payroll deductions will benefit from extended repayment terms of up to five years, compared to 12 months for those using other payment methods.
The initiative is expected to improve affordability and encourage broader participation, particularly among employees who may face short-term financial constraints.
Namitvest is owned by members of the Mineworkers Union of Namibia and forms part of a wider investment structure established in 1997 through Nam-mic Holdings.
Nam-mic has since grown into a diversified investment company with interests across several sectors, including shareholding in major financial institutions through its financial services arm.
Namitvest holds a 25% stake in Nam-mic, with the group’s underlying asset base now approaching N$1 billion, providing indirect investment exposure to union members.
The agreement reflects a broader push within the mining sector to expand employee participation in investment structures linked to industry performance.
