NAM-MIC assets top N$944 million
The Namibia Mineworkers Investment Holding Company (NAM-MIC Holdings) brought together more than 200 stakeholders from public and private sectors for its annual engagement event in Windhoek on 17 April. Billed as "Diligent Investment. Empowering Communities," the day featured a breakfast forum and gala dinner, with discussions on the firm's investment performance, five-year strategy and corporate social investment efforts.
The morning forum focused on NAM-MIC's 2023/24 financial results, which showed strong growth. Total assets rose to N$943.7 million from N$776.9 million the previous year. The company declared dividends of N$29.5 million, shared between the Namibia Miners Investment Trust (75%) and NAMITVEST (25%), with the latter passing on portions to mineworkers, energy workers and their dependants.
NAM-MIC chairperson Shavuka Mbidhi told the forum the firm, set up in 1997 to build wealth for mineworkers and contribute to Namibia's development, had come a long way. "Almost three decades later, that mandate stands," he said. "From modest beginnings to a group with assets exceeding N$943m, we are well on our way."
The company also highlighted more than N$3m invested in social initiatives last year, including the NAMIT Education Fund, SME support, union conferences, May Day events and aid to orphanages and schools.
At the evening gala, styled in black and gold with formal or traditional dress, CEO Asser Kaitungwa emphasised the human side of the firm's work. Video testimonials from beneficiaries underscored the impact, as he noted: "Behind every investment we make, there are people whose lives we are committed to making better. Our total assets grew from N$776.9 million to N$943.7 million. That is not just a figure."
Looking to 2025-2030, NAM-MIC outlined priorities including profitability, portfolio diversification, stakeholder empowerment, staff development and expansion into healthcare, education, agribusiness and technology. Recent moves include acquiring Kadila Poultry Farm, growing its property holdings via Namibia Mineworkers Properties, Topaz Construction and Zanlumor Enterprises, and breaking ground on the Roots Agricultural Village in Stampriet.
