Nam-mic now shareholder in Gondwana

The capital invested will be used for developments like The Desert Grace and the new lodge in the King Nehale Conservancy.

10 July 2018 | Business

We are obsessed with sustainability and therefore we do not practise inclusivity on the strength of envisaged legislation, but rather because we believe it is the right thing to do. – Gys Joubert, MD: Gondwana Holdings

Staff Reporter – Gondwana Holdings Ltd last week became Nam-mic Financial Services Holdings’ first strategic partner outside the financial sector, following a year of negotiations.

The deal was made possible by the Gondwana group’s transformation to a holding company in November 2017. A strategic policy change at Nam-mic also established the enabling environment for the transaction.

With the signing of the shareholding agreement last Tuesday, Nam-mic became a 10% shareholder in Gondwana Holdings. The capital invested flows directly into the expansion of the tourism group and will be used for developments like The Desert Grace, opening on 1 November, and the new lodge in the King Nehale Conservancy with construction commencing within the next few months.

“We are obsessed with sustainability and therefore we do not practise inclusivity on the strength of envisaged legislation, but rather because we believe it is the right thing to do,” said Gys Joubert, managing director of Gondwana Holdings.

“We want to actively build Namibia’s future, not only having sustainability at heart, but also the people of our country and their well-being. We passionately believe tourism can change the future of our beautiful country but for that to happen the benefits must be shared inclusively, from shareholder level to the communities where we operate,” Joubert said.

Walter Don, chief executive ofiicer of Nam-mic Financial Services Holdings (NFSH), said: “We are joining Gondwana with the best of intentions.”

‘Cultural fit’

According to Don, NFSH wants to get involved and add value to Gondwana. “We are glad that we found a partner in the tourism sector who is a cultural fit and shares the same values,” he said.

NFSH is a broad-based black economic empowerment company with the vision “to sustainably change/impact the lives of the communities in which we operate”. All its shares are owned by affiliated unions of the National Union of Namibian Workers (NUNW). Other strategic partners are Capricorn Investment Holdings, Santam Namibia and Sanlam Namibia Holdings.

Since its establishment in 2001, NFSH has successfully evolved into a socio-economic powerhouse beyond its 93 000-strong membership base.

Upon completion of the restructuring process in November 2017, the Gondwana group issued shares to all of its 800 employees as a once-off gesture of thanks to staff for laying a solid foundation for the company to grow into one of the largest hospitality groups in the country.

Similar News

 

FirstRand Namibia fights back

1 day - 15 February 2019 | Business

Jo-Maré Duddy – FirstRand Namibia bounced back to positive profit growth in the six months ended 31 December 2018 after taking a knock in the...

NaCC scrutinises fuel imports

1 day - 15 February 2019 | Business

The Namibia Competition Commission (NaCC) is requesting input from interested and affected parties on the reinstatement of the National Petroleum Corporation of Namibia's (Namcor) intent...

RA, Unam sign MoU

1 day - 15 February 2019 | Business

Justicia Shipena On 12 February, the Roads Authority (RA) and the University of Namibia (Unam) signed a memorandum of understanding (MoU) at the RA’s...

Company news in brief

1 day - 15 February 2019 | Business

Vodacom, Telkom welcome ECA bill withdrawalSouth African mobile network operators Vodacom and Telkom on Wednesday welcomed a government decision to withdraw a bill, which proposed...

Better half-year for FirstRand Namibia

2 days ago - 14 February 2019 | Business

FirstRand Namibia, previously FNB Namibia Holdings, made a profit of nearly N$552.7 million for the six months ended 31 December 2018 – an increase of...

Company news in brief

2 days ago - 14 February 2019 | Business

Heineken sees 2019 profit growth at similar pace to last yearHeineken, the world's second-largest beer maker, forecast its operating profit to grow at nearly the...

Company news in brief

3 days ago - 13 February 2019 | Business

Tanzania row overshadows Acacia's upbeat outputAcacia Mining beat forecasts on Monday with figures for its production and costs in 2018 that lifted the gold miner...

Namibian khalas hits market

4 days ago - 12 February 2019 | Business

Desert Fruit Namibia (DFN), one of only a limited number of date producers in the southern hemisphere, has begun to harvest Khalas – a new...

Company news in brief

4 days ago - 12 February 2019 | Business

Gushing profits for oil majors on crude priceThe world's top energy companies booked enormous profits last year thanks to higher oil prices and keeping a...

Cannabis craze weeds out junior mining field

5 days ago - 11 February 2019 | Business

Joe Bavier and Barbara Lewis - A boom in cannabis investment is siphoning capital away from mining and hitting junior miners hardest, forcing them to...

Latest News

Hostel a threat to lives

1 day - 15 February 2019 | Education

The Kavango West education directorate continues to subsidise a dilapidated church hostel at Nkurenkuru, despite a 2010 directive by the health ministry that it must...

Foreign graduates protest 'unfair' tests

1 day - 15 February 2019 | Health

Dozens of foreign-trained medical and dentistry graduates took to the streets yesterday to protest against a pre-internship exam which they claim is unfair and discriminatory.One...

FirstRand Namibia fights back

1 day - 15 February 2019 | Business

Jo-Maré Duddy – FirstRand Namibia bounced back to positive profit growth in the six months ended 31 December 2018 after taking a knock in the...

Our people sustain our group

1 day - 15 February 2019 | Columns

Engaged employees help establish better relationships with customers, since staff are the ones who are actually in contact with customers. This is why FirstRand Namibia...

NaCC scrutinises fuel imports

1 day - 15 February 2019 | Business

The Namibia Competition Commission (NaCC) is requesting input from interested and affected parties on the reinstatement of the National Petroleum Corporation of Namibia's (Namcor) intent...

Our Achilles heel of accountability

1 day - 15 February 2019 | Columns

Enforcing greater accountability has always been an Achilles heel for the Namibian government over the years. Questions have been raised over whether there is indeed...

RA, Unam sign MoU

1 day - 15 February 2019 | Business

Justicia Shipena On 12 February, the Roads Authority (RA) and the University of Namibia (Unam) signed a memorandum of understanding (MoU) at the RA’s...

Mutorwa’s journey with science

1 day - 15 February 2019 | People

Justicia Shipena Marius Mutorwa is a lecturer at the Namibia University of Science and Technology (Nust) in the department of health...

Witbooi artefacts coming

1 day - 15 February 2019 | Cultural

The arts and culture ministry has dismissed claims by the Nama Traditional Leaders Association (NTLA) that repatriating the bible and whip of the late Nama...

Load More