Select Page

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.

About The Author

The Staff Reporter

The staff reporter is the most senior in-house Economist reporter. This designation is frequently used by the editor for articles submitted by third parties, especially businesses, but which had to be rewritten completely. - Ed.

Following reverse listing, public can now acquire shareholding in Paratus Namibia


20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.