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Windhoek Country Club hands over N$6 million dividend to government

Windhoek Country Club hands over N$6 million dividend to government

The Windhoek Country Club Resort and Casino (WCCR) handed over a dividend cheque to the amount N$6 million for the 2017-18 financial year to Hon. Pohamba Shifeta, Minister of Environment and Tourism, this week.

Also, in attendance was Hon.Leon Jooste, Minister of Public Enterprises and Sven Thieme, Chairman of the Board of Directors of WCCR.

Thieme expressed his satisfaction with the achievement of the WCCR over the past financial year.

“As we all know the economy has been facing tough times for the past two years and this also has an impact on certain aspects of our business. Tourism, however, remains robust and in 2017 we were able to maintain the high performance and good results attained in the previous year,” he said.

Thieme added that he was delighted with the results achieved at the Windhoek Country Club Resort and Casino.

“Once again, the team at WCCR can stand proud and I, for one, am excited about the achievements. Highlights of the past year include the completion of the hotel refurbishment, the output of our own solar energy plant – saving money and electricity, and the many happy guests and conference attendees which frequented our hotel. It is worth mentioning, that the refurbishments were fully paid out of the WCCR’s own cash reserves and that, by itself, is a great accomplishment. We are grateful and excited to be able to pay dividends to government, thereby proving once again that the WCCR is a success story,” he said.

Tony Boucher, General Manager of the WCCR added, “2017-18 proved to be a challenging financial year and the core focus areas of the business in the past year were to maintain cost containment measures and to implement new, innovative ways of generating additional income streams. The Hotel successfully improved occupancy, average rate, turnover and profitability despite the inclement economic conditions. Casino operations remain a focal point for the foreseeable future as a result of the ever-increasing pressure on the consumer’s disposable income levels.”

Shifeta said, “I am proud to be associated with the board and the overall performance as there is no reliance on the shareholder. WCCR makes money and a return for the shareholder and that is what we want. WCCR is run like a commercial company and not a section 21 charity. I am happy with the management and the board and congratulate them for their achievements.”


Caption: Hon. Leon Jooste, Minister of Public Enterprises, Hon. Pohamba Shifeta, Minister of Environment and Tourism, Sven Thieme, Chairman of the Board of Directors of WCCR.


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