C O R P O R AT E B R O C H U R E

The Art of
Investing Employee
Benefits Prudently

A NAMIBIAN SUBSIDIARY OF NBC HOLDINGS (PTY) LTD (“NBC”)

 C O R P O R AT E B R O C H U R E

Content
Our Company

Ownership and
Shareholding

Our Team

Our Products and Services

Our Clients

A N a m i b i a n s ub s i d i ar y of N BC H o l d i n g s ( P t y ) Ltd ( “ N BC” )
Our
Company
 C O R P O R AT E B R O C H U R E

Humanity Employee Benefits

HumanityEB Namibia came into existence in June 2007 as
the Namibian subsidiary of NBC Holdings. The HumanityEB
Namibia was formed through NBC Holdings as a joint venture
company with Humanity Employee Benefits Company (Pty) Ltd
of Namibia and its existence in Namibia is now ceded in the joint
venture company, Humanity Employee Benefits ”HumanityEB
Namibia”.

Vision
Our Vision is to be the Leader in People Benefits in Africa

Mission
HumanityEB Our Mission is to provide cost efficient financial services that
are design to meet our clients’ needs and achieved through
Vision Mission sustainable partnerships with our clients, staff and stakeholders.

Values
• Integrity
• Our People
• Cost Awareness
• Client Service
• Communication

A N a m i b i a n s ubs i d i a r y of N BC H o l d i n g s ( P t y ) Ltd ( “ N BC” )

Ownership
and
Shareholding
 C O R P O R AT E B R O C H U R E

Our joint venture /Partners

NBC Holdings South Africa, have a controlling interest in
HumanityEB Namibia, as a pioneer and a leading firm in Employee
Benefits and Retirement Funds Industry in South Africa. Humanity
EB is wholly supported and benefits directly from NBC.

NBC Holdings (Pty) Ltd (NBC), the first black-owned and managed
Employee Benefits company in South Africa, was formed in April
1998. NBC pioneered the establishment of defined contribution
funds, a trend that accelerated during the late 1980’s and early
1990’s as trade unions gained more influence and companies
took advantage of the commercial certainty offered by defined
contribution funds.

It is now the second largest Employee Benefits company in

the country and a leader in the field of negotiated benefits. Its
shareholders are NBC management and staff.

Ownership and NBC currently advises on the retirement savings of some 420
Shareholding 000 members of over 150 registered retirement funds. It counts
among its clients central government, local authorities, labour
organisations, parastatals, the retirement funds of many of South
Africa’s leading companies and the South Africa Unemployment
Insurance Fund.

Today NBC is a leading force in the South African employee

benefits arena, providing a comprehensive range of employee
benefits products and services to 120 registered pension and
provident funds, representing the retirement fund savings of more
than 350 000 members.

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 C O R P O R AT E B R O C H U R E

Establishment And Incorporation

Humanity Employee Benefits (Pty) Ltd (“Humanity EB”) is
a registered company in terms of the Companies Act of
Namibia. The company was incorporated in June 2007 as
a Namibian subsidiary of NBC Holdings (Pty) Ltd (“NBC”).
In order to integrate the Namibian partners into Humanity
EB, NBC’s shareholding of Humanity EB was split between
NBC Holdings (Pty) Ltd (51%) and Octagon Actuaries and
Consultants (40%) with a further 9% earmarked for future
expansion of Namibian (local) shareholding.

Shareholding
Shareholder Details Citizenship
Ownership and Octagon Namibian domiciled Namibia
Shareholding Actuaries &
Consultants:
company - 40%
Shareholding in
Humanity EB Company

NBC Holdings South African South Africa

(Pty) Ltd domiciled company
-51% Shareholding in
Humanity EB Company

Unallocated 9% Shareholding
Shareholding

Name(s) of Directors
Directors Name Citizenship

Vilho Mutileni Namibia

Robert Oketch Kenya
Balam Chetty South Africa
Bassie M Maisela South Africa

A N a m i b i a n s ub s i d i a r y of N BC H o l d i n gs ( P t y ) Ltd ( “ N BC” )
 C O R P O R AT E B R O C H U R E

Empowerment activities
We have a bursary scheme were we fund students that are
pursuing their professional exams in the space of Actuarial
Science, Investments or Pension Studies.

Currently we three Namibian students whom are being sponsored

by Humanity Employee Benefits – two of whom are studying
towards qualifying as Actuaries and one is studying towards
Investment and Portfolio Analysis.

We have a student mentorship programme for University Students

studying towards Actuarial Science, Accounting or Investments.

During holidays we provide job attachment to these students.

Three students have gone through this program two of whom are

Social currently employed with Old Mutual Namibia – one of who is a

nearly qualified Actuary and the Second is an Investment Analyst
Responsiblitity who is busy finalizing her exam to become a Charted Financial
Analyst.

All these students that we have sponsored and mentored over the
years are females from previously disadvantaged backgrounds.

A N a m i b i a n s ub si d i a r y of N BC H o l d i n g s ( P t y ) Ltd ( “ N BC” )
Our
Team
 C O R P O R AT E B R O C H U R E

Managing Director
Vilho Natangwe Mutileni

Serves as an Executive Director at HEB Before assuming this

position, he was employed as an Actuarial Specialist by Old
mutual Namibia, and as an Executive Assistant to the CEO of Old
Mutual Namibia (2008). He also worked as an Actuarial specialist
in Old Mutual South Africa before returning to Namibia. Whilst
at Old Mutual, Vilho was very instrumental in setting up the
company’s local actuarial department that gave technical advice
to management of the Old Mutual Group. Other positions of
note held, he worked as a senior statistician in the Office of the
president (Namibia) NPCS-Central Bureau of Statistics, He was
also contracted as an Actuarial consultant for the Motor Vehicle
Accident of Namibia. Vilho has a profound understanding of the
business and finance world, with an inclination towards Insurance,
Investments and Risk Management.

Administrator
Franisna N Titus
“ Franisna N Titus provides administrative support to the Humanity
Employee Benefits team. She is an enthusiastic member of the
team who excel at providing support to all the business units within
an organisation whilst ensuring that all management information is
accurate from an administrative perspective.

With a collective experience within the administration industries,

Fransina holds an Honours Degree in Business Administration
from The International University of Management with a focus on
Communication. She is passionate about potential growth and
development on both personal and organizational level for the
betterment of herself and the organisation”

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 C O R P O R AT E B R O C H U R E

Investment and Benefit Consultant

Taleni Matheus

Taleni who joined HEB in April 2017 as a Benefit consultant

quickly worked her way up to Investment consultant and current
pursuing Investment portfolio Management with UNISA .She has
a Master Degree in Marketing and Bachelor Degree in Marketing
Management with the University of Management.
Her goal is to enhance satisfaction and acquire an expanding and
dedicated clientele. She has a clear, logical mind with a practical
approach to problem-solving and a drive to see things through to
completion. she has more than 5 years of experience in consultant
and leading teams across multiple sectors.

Actuarial and Investment Consultant

Naita Nghipondoka
An aspiring Actuary, Naita has pursued a BSc in mathematical
sciences, with a double major in mathematics and mathematical
statistics. Naita started her career at HEB in 2015, where she
has taken up roles in Actuarial services, Benefit Consulting and
Investments. Her areas of expertise are: Pensions, Short term
insurance, Investments, benefit consulting and damage.

Benefit Consultant
Rutendo Gertrude Mupazi
Rutendo holds a Master of Commerce (MCOM) in Business
Management with focus in Strategic Management and has
experience in administration and benefit consulting. As a Benefit
consultant her core strengths are her assertiveness, transparency
and insightfulness which blends well the expectants of the clients.
Her joys as an Administrative and Benefit consulting is being able
to connect the dots between departments, clients and overall the
art of juggling competing work priorities.

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HumanityEB
Products and
Services
HumanityEB provides a quality service and offers a
comprehensive range of products and services include the
following:
• Sponsor Umbrella Fund;
• Industry Umbrella Funds; and
• Employer sponsored stand-alone or single-employer funds
 C O R P O R AT E B R O C H U R E

Retirement Fund Administration

Humanity EB -provides professional, cost-effective and service-driven
retirement fund administration utilising the right people, the best
systems, documented procedures and transparent communications.

HumanityEB -Fund Administration Services administers a wide

range of retirement fund types, including defined contribution
funds, defined benefit funds and hybrid Funds.

Using sophisticated systems, proven processes and managed

procedures we are able to administer funds ranging from those
that provide for fund level (trustee driven and actuarially declared)
investments and returns to those where members are able to choose
their own investments (individual member choice funds).

Funds are administered on a ‘dedicated team’ basis where each

FUND ADMINISTRATION client is allocated a team of administrators who are led by an
& ACCOUNTING administration manager; the principal point of contact for any
administration queries’

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 C O R P O R AT E B R O C H U R E

Retirement Fund Consulting Services

HumanityEB -offers the full range of proactive, carefully managed,
relationship-driven retirement and benefit consulting services
HumanityEB- offers a full range of retirement and other benefit
consulting services to complement the Fund administration function.
These services include:

• Benefit design
• Communication
• Governance services
• Insured benefit services
• Secretarial services
• Legal and Contractual services
• Trustee Training

HumanityEB -offers Professional consulting serves to ensure the

RETIREMENT FUND financial protection of the fund, whilst providing valued and secure
CONSULTING benefits for members.

HumanityEB is authorised to provide intermediary services to

retirement funds and to employers. NBC advises on and places
the funds’ insurance business (normally in the form of group life
insurance or disability insurance – whether temporary or permanent)
at the most affordable and competitive rates with favourable policy
terms and conditions.

After placing the insurance business of a client, HumanityEB will

regularly review the market in order to ensure long-term sustainability
of the product and to provide solutions to mitigate poor claims
experience

A N a m i b i a n s ub s i d i a r y of N BC H o l d i n g s ( P t y ) Ltd ( “ N BC” )
 C O R P O R AT E B R O C H U R E

Actuarial Services
Providing the full range of professional actuarial services to
retirement funds, social security schemes, retirement funds and
health-care providers.

Humanity EB - has an established Actuarial team that provides a full

range of Actuarial Services for social security schemes, retirement
funds and health-care providers.

These include:

• Performing statutory or ad hoc actuarial valuations

• Performing non-life reserving valuations
• Actuarial advice on benefit design, investment
strategies, etc.
• Calculation of member values and assistance with legislative
issues
ACTUARIAL SERVICES • Analysis of impact of change in contribution rates and
changes in benefit structures
• Asset and liability modelling

We provide commercial, financial and prudential advice on the

management of assets and liabilities, especially where long-term
management and planning are critical factors.

We advise each client individually according to their specific needs.

We have considerable experience of market trends and legislative

frameworks

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 C O R P O R AT E B R O C H U R E

Actuarial Services
Our actuarial consulting team focuses primarily on the reconciliation
of valuation data and the valuation of assets. We work with each
client to ensure that we are meeting the requirements of the trustees
of the fund, in accordance with the relevant rules and legislation. We
spend time ensuring that we fully understand all requirements before
the commencement of work and we firmly believe in informing and
guiding rather than dictating.

Our actuarial consulting services include: -

• Annual valuations, inclusive of the final interest allocation to
member credits;
• Determination of the monthly interest allocation to member
credits;
• Annual pension increase proposals;
• Bulk transfer calculations, including the issuing of Section
14 certificates;
ACTUARIAL SERVICES • Individual member benefit calculations;
• Certifying the correctness of the rules and rule
amendments, and assisting in the drafting of Rules where
required;
• Giving recommendations and comment on the benefit
design of the fund, taking into account the financial status
of the fund, the expectations of members, benefit trends in
the Namibian market, and other relevant information;
• Attending trustee meetings as and when required;
• Possible assistance in the calculation of benefits by
providing calculation sheets, programs and tables.

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 C O R P O R AT E B R O C H U R E

Investment Consulting
Services
HumanityEB Investment Consulting Services (ICS) is a specialised
investment services division that assists and guides Boards
of Trustees in making appropriate decisions regarding the
investments of retirement funds in an increasingly complex
investment environment.

Our services are independent of all investment managers, multi-

managers or insurers and our advice to Trustees is totally unbiased.
We are keenly aware of the importance that the Trustees place
on fulfilling their fiduciary duties. Together with the Trustees, we
can ensure that all decisions made are well formulated, prudent
and documented, aimed at ensuring the long term financial
soundness and success of the Fund. Through sound advice, based
on thorough analysis, research and effective risk management, we
can help the Trustees achieve superior investment returns on Fund
INVESTMENT Assets.
CONSULTING SERVICES

What differentiates our investment services from those of our

competitors is that:
• We tailor the level and type of service to meet each of our
clients’ unique needs;
• Our advice is pro-active and solution-oriented;
• Our consultants have a dual consulting/research role which
results in client focused research and informed client
consulting;
• On-going investment manager research is shared with
clients, and as a result real-time information regarding
investment managers is provided, thereby allowing for
effective decision making.

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 C O R P O R AT E B R O C H U R E

Humanity Umbrella Retirement Fund

A multi-employer retirement fund for the medium sized-
employer who wants to provide professional yet cost-effective
retirement fund solutions to employees.

The Humanity Umbrella Retirement Fund is a multi-employer

fund set up in terms of the Pension Funds Act and fully
registered with NAMFISA. Our professionally managed
umbrella fund is set up to provide retirement, death and other
benefits to members of participating employers.

Our multi-employer umbrella brings critical mass and offers a

cost-efficient, sound retirement fund solution to the employer
who does not wish to set up a stand-alone fund.

HUMANITY UMBRELLA The Humanity Umbrella Retirement Fund provides for

RETIREMENT retirement savings and group risk benefits, while effectively
outsourcing the complex administration of the fund.

A N a m i b i a n s ub s i d i a r y of N BC H o l d i n gs ( P t y ) Ltd ( “ N BC” )
Our
Clients
 C O R P O R AT E B R O C H U R E

Humanity Clients
Government Institutions Pension Benefits Consulting and
Actuarial Services
Fund

SME BANK Provident Fund Benefits Consulting and

GEPF of Namibia
Actuarial Services
MVA Fund
Actuarial Services

Transnamib Retirement Fund (up

Benefits Consulting and
to 2005) Actuarial Services

Members of Parliament and Benefits Consulting and

Actuarial Services
Political Office bearers pension
Benefits Consulting and
fund Actuarial Services

Department of Veterans Affairs

Benefits Consulting and
Actuarial Services

Ministry of Defence Benefits Consulting and

Humanity EB Actuarial Services

Clients Humanity Employee Benefits - Products And Services

Humanity EB provides quality service offering packaged within
the following common products in the retirement fund industry:
- Sponsor Umbrella Fund;
- Industry Umbrella Funds; and
- Employer sponsored stand-alone or single-employer funds
A comprehensive range of products and services include the
following:

A N a m i b i a n s ub si d i a r y of N BC H o l d i n g s ( P t y ) Ltd ( “ N BC” )
The Art of
Investing Employee
Benefits Prudently

Humanity Employee Benefits (Pty) Ltd (“Humanity EB”)

Namibia Offices
7 Viljoen Street Unit B | P.O Box 2752 | Windhoek | Namibia
Phone: +264 61 241 746
Fax: +264 61 401 398
Email: office@bsc.com.na
E-mail: vilho@bsc.com.na
Mobile: +264 811 222 0 44