Just Transition Investment (JTT) Namibia Limited, a pioneering investment company dedicated to financial growth, has been launched. This marks a momentous milestone in the history of Namibia, and the Mineworkers Union of Namibia, as the legacy company. The Just Transition Investments (JTT) Namibia Limited, was officially launched as a public company and contracted with Transfer Secretaries (Pty) Ltd, a subsidiary of the Namibian Stock Exchange as agent to maintain the register of shareholders. The launch of the event was held at the offices of the Transfer Secretaries (Pty) Ltd.
On 30 May 2024 the JTT company transitioned from being formerly known as the Mineworkers of Namibia Just Transition Trust and was launched under the theme “creating a vehicle for generational wealth’ for the members and former members of the Mine Workers Union of Namibia, including their dependents. The company is dedicated to the improvement of the lives of these defined beneficiaries. JTT holds 100% in NAMITVEST Investment Holdings (Proprietary) Limited, which in turn holds 25% of the entire issued share capital of Namibia Mineworkers Investments Holding Company (Proprietary) Limited (NAMMIC Holdings), a company valued at over N$700 million.
Notably, 655,937 JTT shares changed hands at a price of N$6.05 per share through a deal sponsored by Stratus Fund Managers, worth over N$3.9 million. The deal, marks the issuance of share certificates to 522 members and former members of the Mine Workers Union of Namibia, including their dependents. A total number of 10 million shares are available to the defined Beneficiaries of JTT. The Company is targeting a minimum of 4 500 shareholders, with monthly issuance of approximately 250 to 500 share certificates over the next 10 months. The next issuance is planned for 30 August 2024. To date over 1 830 subscriptions have been received, and we look forward to this new vehicle increasing its shareholders.
Joshua Kaitungwa, the Chairman of NAMMIC welcomed and addressed the attendees, reflecting on the journey with the shareholders and partners, “JTT Namibia Limited, which holds 100% of NAMITVEST Investment Holdings, is now a public company, reflecting our dedication to transparency, accountability, and market growth. The transformation from Just Transition Trust to Just Transition Investments signifies our evolution and readiness to make a lasting impact on Namibia’s investment landscape”. he remarked.
The Principal Officer of NAMITVEST, Jason Kasuto, briefly introduced the company, the collaborations and partnerships as well as the remarkable work they have done thus far, “Our collaboration with NAMMIC Holdings has been a cornerstone of our success. Together, we have worked diligently to create value and opportunities for the Namibian people. NAMMIC Holdings, valued at over N$700 million, is a reflection to the strength and potential of our partnership. NAMITVEST holds a significant stake in NAMMIC Holdings, which shows our dedication to ensuring that the benefits of our investments reach the people who need them the most.” he stated.
Transfer Secretaries PTY LTD (TS) offers stakeholders the assurance that the administration of their shareholding is entrusted to seasoned professionals with a wealth of expertise, with a track record of managing various aspects of share administration (for listed and unlisted entities). Additionally, the Transfer Secretaries instill confidence through their adept handling of processes such as dividend payments and stakeholder communication. The TS Manager, Alexandrea Ullrich recommitted to their mission, “ As we embark on this new journey, it is crucial to highlight the vital role played by Transfer Secretaries, whose expertise ensures that shareholders’ interests are managed with the highest level of professionalism and care. Transfer Secretaries offers stakeholders the assurance that the administration of their shareholding is entrusted to seasoned professionals with a wealth of expertise. Our track record in managing various aspects of share administration, whether for listed or unlisted entities, instills confidence through our adept handling of processes. This assurance from Transfer Secretaries underscores JTT’s commitment to transparency, accountability, and market growth. Our involvement ensures that the shareholders, are well-supported and informed. As we move forward, we remain committed to our mission of empowering the shareholders with the knowledge and resources needed to thrive in an ever-evolving financial landscape. Together we are confident that JTT will achieve their goal of creating a vehicle for wealth generation that benefits all their stakeholders,” she said.
During the launch event, JTT honored its 522 shareholders, recognizing their commitment to building a brighter financial future for themselves and their families. Among the esteemed recipients of shareholder certificates was Veronica Paulus, who shared her excitement of being part of this journey of wealth creation, “We are making history. Since I have been a part of Mineworkers Union, I have never seen any product that allows you to trade in stocks. I have also never heard of workers investing on the stock exchange. Of course, I am sure technically its possible for anyone to go and invest on the stock exchange. But there is such a big gap in understanding financial systems and tools. I already have my share certificate and I am looking forward to the growth. I want to thank MUN and Namitvest for this because it has never been done before and will bring positive changes in the lives of mineworkers, she excitingly said.
Characteristic of the JTT’s mission is the empowerment of the MUN members and former members and their dependents through financial literacy, loyalty rewards and the investment opportunity. By offering members the chance to become shareholders, JTT aims to provide a pathway to long-term prosperity and economic stability for future generations. Furthermore, the appointment of Transfer Secretaries as agent, underscores JTT’s commitment to transparency, accountability, and market growth. As JTT Namibia embarks on this transformative journey, it remains steadfast in its dedication to empowering its beneficiaries with the knowledge and resources needed to thrive in an ever-evolving financial landscape.