Spar Oranjemund signs payroll deduction deal with NamitVest

NamitVest signed a payroll deduction agreement with Spar Oranjemund, allowing employees to invest in Just Transition Investments (JTI) Public Company through automated salary deductions.The agreement, signed at the REC Club in Oranjemund, enables current and former Mineworkers Union of Namibia (MUN) members and their dependants to purchase shares through monthly payroll deductions over 60 months.The arrangement removes the need for manual payments such as EFTs or debit orders. A set amount is deducted before salaries are disbursed, ensuring consistent investment contributions.NamitVest has in the meantime deployed field agents across four regions—Northern, Central, Western, and Southern—to visit workplaces, hold activations, and assist members with share applications.Jason Kasuto, principal officer of NamitVest and MD of Monasa Advisory & Associates, said: "Today, we are not merely imagining a future of financial freedom for employees, we are taking concrete steps to make that future possible. This agreement marks a defining milestone in our shared journey towards economic empowerment and inclusive growth."Kasuto said employers who entered into payroll deduction agreements allow employees to pay over 60 months, whilst others pay in 12 months. "Spar has followed the trend, just like we have done with Swakop Uranium and similar with Erongo Red, these are companies that are now moving and thinking forward and allowing their employees to pay over a sixty month period," he said.Arthur Conry, manager of Spar Oranjemund, said the share value currently stands at N$15 per share, with members receiving a discount of N$8.48 per share. "Looking at the trajectory at which these shares have grown, the opportunity to get those shares at such prices and have financial stability for years to come is not going to last forever. Therefore, this is a once-in-a-lifetime opportunity, one that you cannot pass," he said.NAMITVEST has issued 10 million shares, of which approximately 6.3 million have been taken up, leaving 3.7 million shares available. The company has over 1,600 subscribers and has declared dividends twice—N$1.00 per share in November 2024 and N$0.50 per share in April 2025.

Spar Oranjemund signs payroll deduction deal with NamitVest

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Republikein 2026-01-12

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Spar Oranjemund signs payroll deduction deal with NamitVest

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