Established in 1995, the Mineworkers Investment Trust (MIT) has upheld its mission to become a wealth creation vehicle that assists retrenched mining, construction and energy workers whilst providing support to their beneficiaries and communities for over two decades.
MIT owns 100 percent of the MIC and was created to benefit National Union of Mineworkers (NUM) members and beneficiaries through reskilling and providing bursaries for their children. The MIC provides the MIT with funding for its over 1 million beneficiaries with access to education, training and research initiatives.
MIT supports various institutions including the Mineworkers Development Agency (MDA), the JB Marks Education Trust Fund (JBM) and the Sam Tabani Research Institute (SATRI), which are the primary recipients of grants from the Trust although other projects are supported from time to time. The Elijah Barayi Memorial Training Centre, while a self-sustaining non-profit organisation, also forms part of the MIT family.
Over time, MIT has disbursed just under R500 000 000 to its beneficiaries and, in return, the performance of its beneficiary organisations has far exceeded expectations. Through its JB Marks bursary scheme, it boasts over 1 100 graduates, for example, and, in partnership with MDA programmes, it has created around 200 000 sustainable livelihoods.
Underpinning its dedication to the people its focal industries serve, MIT’s goals are simple – it will ensure the creation of sustainable income generating vehicles; maintain sound governance of funds; ensure sound funds disbursement management; and continue the Trust’s excellent track record.
Vision: To provide sustainable funding to MIT beneficiaries in order to improve the quality of life of NUM members, dependents and communities.