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

 

Bitcoin sinks to new 13-month low

22 hours ago | Business

Bitcoin slumped to a new 13-month low on Monday, with the biggest cryptocurrency touching US$5 173.23 on the Bitstamp platform. Bitcoin was last down 5.2%...

Capricorn excels at integrated reporting

22 hours ago | Business

Capricorn Group scooped the Best Regional Company Award at the Annual Integrated Reporting Awards 2018 hosted in Johannesburg by Chartered Secretaries Southern Africa in partnership...

Company news in brief

22 hours ago | Business

Rio Tinto, Nespresso join forcesNespresso, part of food giant Nestle, aims to use sustainable aluminum in all of its coffee capsules by 2020 under a...

Angola battles to revive oil exploration as output declines

1 day - 19 November 2018 | Business

Stephen Eisenhammer – Last Saturday, nearly two decades after securing the initial rights, Total's CEO Patrick Pouyanné was in Luanda to snip the ribbon on...

Thousands die yearly because of fake drugs

1 day - 19 November 2018 | Business

Sofia ­ChristensenWhen Moustapha Dieng came down with stomach pains one day last month he did the sensible thing and went to a doctor in his...

Oil rises on expected OPEC cuts

1 day - 19 November 2018 | Business

Henning ­GloysteinOil prices rose on Friday amid expectations of supply cuts from OPEC, although record US production dragged.Brent crude oil futures were at US$67.49 per...

Joining forces

4 days ago - 16 November 2018 | Business

This was confirmed by Andre Neethling, director of Noric Otavi. Nedbank will assist with the financial structuring of the project and the raising of both...

Green exhibits at AfricaCom

4 days ago - 16 November 2018 | Business

Green Enterprise Solutions was the only Namibian company to exhibit at AfricaCom 2018 in Cape Town this week.This was a significant step, as it shows...

Company news in brief

4 days ago - 16 November 2018 | Business

Uber posts US$1 bln lossUber Technologies Inc said on Wednesday that growth in bookings for its ride-hailing and delivery services rose 6% in the latest...

Owning a small business not for the faint of...

5 days ago - 15 November 2018 | Business

Laurence Theron, born in Swakop and living in Walvis Bay, says it's getting tougher for small and medium (SME) size businesses to survive.Theron would know.His...

Latest News

Everyone is struggling

22 hours ago | Social Issues

Poverty eradication minister Zephania Kameeta has slammed those who criticise the government's food bank initiative, saying even those critics with so-called good salaries are finding...

Kahimise, City showdown today

22 hours ago | Government

The Windhoek High Court is today set to hear arguments from twice-suspended Windhoek CEO Robert Kahimise, who is battling to be reinstated. Kahimise, who was...

China: ‘No developing country will...

22 hours ago | Economics

BEIJING - China's foreign ministry said on Sunday that no developing country would fall into a debt trap simply because of its cooperation with Beijing.Chinese...

Bitcoin sinks to new 13-month...

22 hours ago | Business

Bitcoin slumped to a new 13-month low on Monday, with the biggest cryptocurrency touching US$5 173.23 on the Bitstamp platform. Bitcoin was last down 5.2%...

A toast to success

22 hours ago | People

Tunohole Mungoba After completing her entrepreneurship and new venture management studies at the University of Namibia (Unam), 24-year-old Anna Shuuya started pondering different business ideas.I...

Huge wage bill unsustainable

22 hours ago | Columns

Bank of Namibia governor Iipumbu Shiimi has become the latest official to speak out against the rampant state wage bill, which currently stands at almost...

Date nights with yourself

22 hours ago | Opinion

Elizabeth JosephI know it sounds crazy; like who in their right mind would sit in a restaurant, order a three-course meal and eat it all...

Good Business

22 hours ago | Banking

The Development Bank of Namibia (DBN) held its annual Good Business Awards and Innovation Award ceremony in Windhoek on Thursday evening. The black-tie event saw...

Shack fires bring death, misery

22 hours ago | Accidents

Katrina Immanuel (9) and her brother Thomas (8) were burned beyond recognition after their shack caught fire during the early hours of Sunday morning at...

Load More