Namitvest still has 4.5 million shares available

Namitvest Investment Holdings has 4.5 million shares available from its 10 million authorised share capital.

Currently, the company has received applications for about 5.5 million shares.

Yesterday, the company declared its first dividends, paying N$914 000 to its 690 shareholders.

The highest shareholder received N$20 000, while the lowest received N$1 000.

The company also donated one million free shares as part of it’s vulnerable members initiative.

The Namibia Miners investment Trust (Namitvest) is owned by Just Transition Investments (JTT), and holds a 25% stake in Nam-Mic Holdings, valued at over N$700 million.

Principal officer Jason Kasuto said these initiatives allow beneficiaries to participate in national growth.

“This is a first of its kind, not only in Namibia but on the African continent,” said Kasuto.

He said the sale of shares makes complex financial products accessible to underserved communities.

Atutala Namwandi, one of the vulnerable members that received free shares, said the initiative has given her an opportunity to supplement her income over the festive season.

“In a normal setting, I would not be able to buy shares in Namitvest or own a share certificate.

I was identified by Namitvest as a vulnerable individual and given free shares without paying,” said Namwandi.

Because she earns less than N$3 500, the dividend payment will allow her to cover important expenses, she added.

“I’m pleased the company delivered on its promises, and I’m reassured that my investment is not only safe but also growing,” said Namwandi.

There are currently 1 000 applicants under the vulnerable members initiative, of which 250 have currently received dividends.

The rest were not able to receive dividends due to outstanding documents.

Chairperson of the Namibia Miners Investment Trust Matthew Mberiuana said the payout will support mineworkers.

“This dividend payout will support our people in meeting various financial responsibilities,” said Mberiuana.

He said since the inception of the miners union in 1986, it has been committed to promoting the growth and success of mineworkers.

“This dividend declaration marks an important step in our journey to foster financial growth and generational wealth for mineworkers and their dependants,” Mberiuana added.