Gondwana engages like-minded Namibian company as shareholder - News - Gondwana Collection


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Gondwana engages like-minded Namibian company as shareholder

Avatar of inke inke - 06. July 2018 - Gondwana Collection, Economics

Signing the subscription agreement (ltr): Jaco Visser and Gys Joubert (Gondwana Holdings Ltd) and Walter Don (Nam-mic Financial Services Holdings (Pty) Ltd).

Inke Stoldt

“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. 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.”

These were the words used by Gondwana’s Managing Director Gys Joubert when he signed the subscription agreement between Gondwana Holdings Ltd and Nam-mic Financial Services Holdings (Pty) Ltd on 3 July 2018, after one year of negotiations. The deal was made possible by the Gondwana group’s transformation to a holding company in November 2017. Upon completion of the restructuring process, the Gondwana group issued shares to all of its 800 employees as a generous 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. 

A strategic policy change at Nam-mic Financial Services Holdings (NFSH) established the enabling environment to make Gondwana its first strategic partner outside the financial sector. “We are joining Gondwana with the best of intentions,” says Walter Don, the NFSH Chief Executive Officer. “We want 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.” 

Nam-mic Financial Services Holdings is a truly 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 NUNW affiliated unions. 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.

With the signing of the shareholding agreement on 3 July 2018, Nam-mic Financial Services Holdings will become a 10% shareholder in Gondwana Holdings Ltd. The capital invested flows directly into the expansion of the tourism group and will be used for developments like The Desert Grace (opening 1 November 2018) and the new lodge in the King Nehale Conservancy with construction commencing within the next few months.

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