Mine workers’ billion-dollar empire on shaky ground
Every payday for nearly three decades, Ndumba Kayundu paid his monthly dues to the Mineworkers’ Union of Namibia (MUN). Although he has often wondered where that money ends up, he knows the answer has little to do with him. “Whatever belongs to the union is ours,” says Kayundu (64), who represents current and former members […] The post Mine workers’ billion-dollar empire on shaky ground appeared first on The Namibian .
Every payday for nearly three decades, Ndumba Kayundu paid his monthly dues to the Mineworkers’ Union of Namibia (MUN).
Although he has often wondered where that money ends up, he knows the answer has little to do with him.
“Whatever belongs to the union is ours,” says Kayundu (64), who represents current and former members who are beneficiaries of the union.
“Some 28 years down the line and zero benefit to ourselves.”
His monthly contributions, like those of thousands of other mineworkers and those in the electricity supply industry, have, however, built something much larger than a union.
Photo: Vestige Collection LUXURY … Sorris Sorris lodge is one of four lodges partially owned by the union through Namibia Exclusive Safaris.
MUN channels those dues through the Namibia Miners Investment Trust (Namit) and its investment arm Nam-Mic Holdings.
