MIT FAMILY ...

Vision:

"To improve the quality of life of our beneficiaries"

Mission:

"To generate income from investment and other sources in order to provide financial assistance for various projects conducted in association with the National Union of Mineworkers (NUM) that will uplift and improve the quality of life of our members, ex-members, their families and their communities."

MIT:

The Mineworkers Investment Trust was established in 1995 by the National Union of Mineworkers (NUM) after identification of a need to improve the quality of life for its members and former members and their dependents through investment opportunities. It was always understood that such opportunities would exclude possible conflicts of interests with the NUM in the mining, energy and construction sectors and that through the creation of a more sustainable asset base MIT would realise income for social development programmes in the areas of education and micro enterprise development.
Within the same year MIT established the Mineworkers Investment Company (MIC) with an amount of R3 million as seed capital and focus to drive Black Economic Empowerment.   Today MIC manages an asset base valued at R10 billion.

 

 
MIT Background ...
MIT
established in 1995 by NUM
MIT mining - energy - construction
MIC established by MIT in 1995 R3million as seed capital from NUM to drive BEE
MIC assets over R10billion
MIC awarded BusinessMap Top Unlisted BEE Company, 2006 Barloworld / WBS Top BEE Deal (Peermont), 2006
MIC disbursesd over R122,5 million into MIT to fund social development programmes
June2008 - MIC disbursed additional R245million to MIT invested into MIT annuity fund providing solid secure cash flows for next 5 years
MIT represents over 1 million people across SA
MIT's projects focus on: poverty alleviation, local economic development, enterprise development and job creation
MIT delivers on this mandate through the Minworkers Development Agency (MDA), the JB Marks Education Trust Fund and Elijah Barayi Memorial Training Centre (EBMTC)
 
 

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MINEWORKERS INVESTMENT TRUST | IT 4684/95 024-659-NPO | Last updated on 04/03/2010
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