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.

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