In a significant move aimed at enhancing financial inclusion and long-term prosperity for its workforce, Erongo RED has officially entered into a payroll deduction agreement with NAMITVEST. The partnership was formalised during a signing ceremony held at the utility’s Head Office in Walvis Bay on Thursday.
The initiative is designed to allow Erongo RED employees, particularly members and former members of the Mineworkers Union of Namibia (MUN), as well as their dependents, to invest in Just Transition Investment (JTT) Namibia Limited through automatic salary deductions. This facility provides a structured and accessible means for staff to build personal wealth, acquire assets, and share in the company’s growth.
Speaking at the event, Jason Kasuto, Principal Officer of NAMITVEST, emphasised that the payroll deduction scheme will help secure employees’ financial futures through systematic asset accumulation and investment returns.
Erongo RED’s Chief Executive Officer, Mr. Immanuel !Hanabeb, whose speech was delivered by Executive Manager for Supply, Mr. Claude Tjizo, stated that the company’s commitment extends beyond providing reliable electricity to enriching the socio-economic welfare of its employees. “The establishment of this payroll deduction facility ensures that employees can participate in an investment initiative that promotes financial growth and long-term stability,” he said.
George Ampweya, General Secretary of MUN, who spoke on behalf of Union President PocoKey Mberiuana, welcomed the agreement as a step toward strengthening employer-employee relations. “This partnership is about shaping a future where our members can thrive both professionally and personally,” Ampweya noted.
He added that when employees become shareholders, dividends will be disbursed through a transparent process, fostering a culture of shared success and encouraging long-term financial planning.
The collaboration underscores a joint commitment by NAMITVEST and Erongo RED to open meaningful investment opportunities for employees and their families. By simplifying investment through payroll deductions, the programme aims to cultivate a greater sense of ownership and connection to the organisation, ultimately laying the groundwork for generational wealth and a more secure financial future.