Select Page

Nam-mic Financial Services Holdings now a 10% shareholder in Gondwana

Nam-mic Financial Services Holdings now a 10% shareholder in Gondwana

By Natasha Jacha

Gondwana Holdings Ltd and Nam-mic Financial Services last week signed a shareholding agreement after a year of negotiations.

The deal was made possible by the Gondwana group’s transformation to a holding company in November 2017 and upon the 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.

“We are obsessed with sustainability and therefore we do not practise inclusively 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,” said the Gondwana’s Managing Director, Gys Joubert.

Joubert believes tourism can change the future of the country but for that to happen the benefits must be shared inclusively, from shareholder level to the communities where they operate.

“We are joining the Gondwana with the best intentions and we want to get involved and add value to Gondwana, we glad that we found a partner in the tourism sector who is a cultural fit and shares the same values,” said the Nam-mic CEO, Walter Don.

According to the agreement, the capital invested will flow directly into the expansion of the tourism group and will be used for developments like The Desert Grace (opening 1 November) and the new lodge in the King Nehale Conservancy with construction commencing within the next few months.

About The Author


The Economist accommodates two interns every year, one per semester. They are given less demanding, softer issues to hone their skills, often with a specific leaning to social issues. Today, many of our interns are respected journalists or career professionals at economic and financial institutions. - Ed.