Page 35 - Gondwana Collection Namibia Value Creation Report 2021

GROWING OUR VALUE

A MESSAGE FROM This year, every Board meeting focused on survival and scenario These pioneers recognised that they needed different skills as These days people travel with purpose. International travellers
planning. We expected tourism to improve sooner. We saw
are so impressed with the purpose they see here. Often they are
the company grew. Gys and I joined in 2017 to formalise the
STEVE GALLOWAY signs of recovery, which were then levelled out again by new business and prepare for a listing. As we were both bankers, part of the solution and also fund community projects.
variants and Covid-19 waves. Fortunately, there was a level of
some of the founders were wary of us. But while we enhanced
A look into the future
business activity and not a complete standstill like some weeks
the business model to be more sustainable, we did not mess
in 2020. We have a local base of loyal customers, and in 2021 with the winning formula. We are anticipating a tourism recovery in the second half of
Gondwana has always had we strengthened this following. Our financial performance is The founders had a solid business vision, and when they started, 2022. We hope to have a good high season with occupancy
credible given the incredibly tough conditions. While many
tourism companies have closed, Gondwana has held out. they were already thinking 20 years ahead. This momentum levels above 50%.
a strong culture that is not Despite everything we have faced, we have not retrenched a embedded in the Gondwana DNA will propel us to new levels. In 2022, we will be ready for the recovery by considering
single employee. We will continue to represent the Namibia brand internationally. opportunities and acting quickly. Our plans include investigating
focused solely on profit but has These tough times have accentuated our positive culture and We will cross borders to expand our impact and footprint and regional expansion in Zimbabwe and Botswana. We also plan
become a true southern African player.
to develop new revenue streams. We should be able to tap
considered ‘ESG’ factors. This is strong ethics. This is reflected in the strength of our brand. To enhance our sustainability and attract new investors, we green funds for our expansion because of our inherent ESG
Gondwana is one of the strongest local brands and is respected
in regional and international markets. need to diversify our revenue streams. This means considering credentials. As we move towards listing, we need to finetune
topical now as investors globally Not receiving our business interruption insurance claim was a aligned business opportunities. We will approach these our Board. This includes increasing the number of independent
non-executive directors. Succession planning throughout the
cautiously once the economic climate allows.
embrace ESG and the idea of shock. Gondwana was particularly well-insured, and most other We plan to list on the Namibia Stock Exchange (NSX) sometime company will be a focus so that we continually grow managers
who share the Gondwana DNA.
claims in our industry have been settled. We will continue to
in the future. We are confident that more Namibians will want to
broader stakeholder inclusivity. pursue our rightful claim in the courtroom with assistance from own a share of Gondwana. We want to ensure that our shares are A word of appreciation
a top legal team. This was a stark warning to our management
to not do business with entities that do not align with our affordable to every community where we operate. We need to Gondwana’s continued resilience in 2021 is thanks to the
demonstrate sustained revenue flows, expansion, continuity and a
culture.
profit trajectory before we can list. To prepare for a listing, we also dedication of our internal stakeholders and the support of
The outcome of the claim will be a significant determinant of need to increase the independence and diversity in the Board. external stakeholders. I would like to thank each of you for your
Gondwana’s future. We will survive without it, but this capital contribution in 2021:
injection would enable us to step up and be a major regional Governance ○ Executive management continued to guide the company with
tourism player. This will allow us to have an even greater positive perseverance and huge personal sacrifice. I would especially like to
impact on our people, communities and the environment. We govern the company by applying the King Report for
1
Corporate Governance for South Africa , 2016 (King IV) . This acknowledge Gys for his empathy and deep reserves of resilience.
We believe that ESG needs to be adapted to Namibia’s context. is a natural match for our company, as it focuses on outcomes ○ Gondwana is proud of its lack of hierarchy and the calibre of
Internationally, the ‘E’ in ESG refers primarily to climate-related rather than compliance. our employees. I am thankful for their faith in Gondwana and
issues. We believe that the E in Namibia must encompass local There were no Board changes in 2021, although we made some for how they welcome and spoil our guests.
environmental issues, including the impact of climate change. committee changes. All our Board committees are working well. ○ My fellow Board members have continued to support
Our ‘S’ has to be amplified to assist society to recover from Our Company Secretary keeps the Board abreast of committee Gondwana without receiving Board fees. They actively
Covid-19’s economic devastation. Youth unemployment is our issues, allowing the Board to focus on high-level strategic promote the Gondwana story in their circles of influence. The
biggest ‘S’ challenge. Gondwana and other corporates need to decision making. government has realised that some corporates do not just
be part of the solution. The ‘G’ refers to good governance. While operate for profit but also for the good of communities. I am
we have focused on governance, we need to be more deliberate ESG was a focus for the Board. We must align with global gratified to see more trust between the public and the private
rather than just being intuitive. As we broaden our shareholder metrics to meet the needs of local and international investors. sector. Gondwana has been an advocate of opening borders
base, we must demonstrate our governance, especially of This includes considering and implementing climate metrics. and participating in policy discussions. We will continue to
‘environmental’ and ‘social’ factors. The ESG movement will affect us, and we must respond be an honest and constructive government supporter and a
appropriately, applying global standards in a local context.
Our evolution continues national influencer in 2022.
All Board discussions are stakeholder-inclusive. The people
I have been the Board Chairperson for nearly five years after committee is not just about our employees, but also considers
being a Gondwana customer since 1996. the communities where we are located. We embrace our role as
an agent of change in communities. The company’s corporate
The founders are visionary, humble and determined people
who built the brand block by block. They have always remained citizenship is centred on the Gondwana Care Trust. The Trust
true to their principles. They rewilded the land and changed has a strong reputation and other corporates contribute to our
employees’ lives and communities for the better. work. This allows us to solve problems together as a country. At Steve Galloway
lodge level, employees enjoy contributing to the communities.
Most also come from these communities. Chairperson

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