Page 28 - Gondwana Value Creation Report 2020

GROWING OUR VALUE Beyond a year-long teachable moment ○ Our shareholders. I had many conversations with many of you. I We learned that the Gondwana of the past

understood and shared your fears. I also understand and respect that
was no longer good enough. Our dreams
some of you did not agree with the path we chose. Gondwana is a
We are fortunate to have been able to continue making an impact, and
company of humble beginnings. Our shareholders, especially the founding
protect and invest in our people, communities and planet. We were reminded
shareholders, are very much middle-income people. Farmers from the
to be humble and grateful for what we have and what we are able to do for
and standards were high, but needed to be
south who now had their first rains after a crippling drought of six years.
Namibia. We also learned that the Gondwana of the past was no longer good
enough. Our dreams and standards were high, but needed to be even higher.
the past 12 months to directly remind me that they are 100% dependent
Most importantly, we learned how to operate in complete uncertainty. The
on their shareholding in this company. We admire and respect success,
threat of new waves or strains of the pandemic remain over the short term.
but our stakeholders are different. We represent those people who have
The only guarantee for returning to normal is an effective vaccine, and at the I cannot count on my two hands the shareholders who spoke to me over even higher. Most importantly, we learned
time of publishing this report one has not been rolled out yet, so we remain literally given their whole life’s work to this company and who are 100% how to operate in complete uncertainty.
hopeful but cautious. dependent on it for their future plans and dreams. I am lucky to work
with many of them on a daily basis. As the biggest investor in communal
We believe that the sacrifices made in 2020 will act as a springboard to land in Namibia and in rural Namibia, we represent the unskilled but
catapult this company into the future. Still, the country’s outlook is positive. wonderfully talented people from the local village. All in all, we represent
Low Covid-19 figures and effective containment measures mean that we are the small guy.
on many of our source markets’ green lists for tourism. We are also awaiting ○ My fellow executive directors. I wonder how many hundreds of coffees
the outcome of our business interruption claim submitted to our insurer as we shared and pondered over in 2020. A special thank you to
early as March 2020. As of the start of the pandemic we are confident that Jaco Visser who is the most creative, intelligent and committed
we are adequately insured for the devastation of Covid-19. Financial Director I have ever been privileged to share a crisis with.
We made sure when choosing our insurer that our company’s cover was not ○ Two people I want to highlight: Silke Ahrens who was appointed our
based on the amount of the premium but instead on the comprehensiveness Covid-19 officer and who turned out to be probably the best Covid-19
of the cover. coordinator on this planet. Dgini Visser who twice a week for the whole
We made it clear that we need comprehensive cover for the catastrophic of 2020 shared encouraging voice messages with all employees to
focus on mental health issues. She did this despite going through a
risks, that is why our Business Interruption cover is limited only by the policy tough time herself with extended regional lockdowns for Walvis Bay.
cover which was N$638 million at the time.
Dgini, your voice carried us through 2020.
It has however become clear that our insurer is resisting its obligation to ○ The government of Namibia. I was privileged to engage with
honour its commitments in terms of the policy. government from early on in this crisis alongside other industry
A formal process was started to take the matter to the High Court of Namibia representatives. I wish to thank all those officials and Ministers for your
to compel a decision on whether they will honour or reject our claim. willingness to listen and your commitment to the future of our industry.
○ The Namibian Gondwana Card holders. Thank you for supporting
While many companies are aiming to break even in 2021, we are aiming to Gondwana in the most difficult of times. We will continue to craft our
make a profit. We will stay fiscally conservative and have budgeted our future and our products ensuring that we keep them accessible to
expenses cautiously; however, we are bullish about our prospects from Namibians.
April 2021 onward.
○ The Gondwana Care Trust. It is testimony to our brand that during our
The crisis highlighted the tourism industry’s cumbersome, extended most difficult year ever the Gondwana Care Trust had its best year ever.
and often hidden value chain that separates the end-consumer from the Never before could we have had a bigger impact in a time when it was
primary supplier. Safety, honesty, trust, values, inclusivity, sustainability and so much needed. I believe the character of a nation is revealed through
transparency are key attributes that will highlight us as a preferred supplier how it looks after its most destitute and less fortunate, even more so in
for future travellers and experience seekers. This gives us many opportunities times when it is difficult to do so. A big thank you to all our supporters
for the extended Gondwana Collection brand and the range of products and during 2020.
services we offer. We are proud of what we stand for. We are proud to stand for each other,
We realise the risk we face in our exposure to a single market segment and are we are proud to stand for Namibia, we are proud to stand together, but
working towards expanding our exposure to include a more diversified product mostly we are proud to stand for Gondwana.
offering. We are investing heavily in our IT capabilities to realise our full potential, Ultimately, as MD, it is my responsibility. The countless sleepless hours, the
and will continue building on our brand, and the trust people have in it. fear and the uncertainty of the unknown, the self-doubt. The antidote to
all this was provided by the stability and safety of the Gondwana essence,
Thank you the Gondwana brand and what it stands for. Thank you to every single
Gondwana stakeholder.
I have so many people to thank. Each and every Gondwanian contributed to
our survival. We all understand that the old expectations are dead, and we Love,
are building on a future in which Gondwana will thrive.
I do, however, wish to specifically thank the following people:
○ The Board for its unwavering support. The Board scrutinised our calculations
and our decisions but once it was happy they backed us and left us to get
the work done. A special word of thanks to Steve Galloway who spent Gys Joubert
countless hours in my office in 2020 to offer help, advice and sometimes just Managing Director (MD)
a shoulder to cry on.

26 VALUE CREATION REPORT 2020 GONDWANA COLLECTION NAMIBIA 27