Guest Contributor | Feb 20, 2024 | 0
Government resort manager reports first profit since inception in 1999
A milestone was reached in the previous financial year when Namibia Wildlife Resorts (NWR) posted a profit of N$22 million, reversing a loss of N$19 million of the prior year. The state-owned company has never made a profit in its 21 years of existence.
However, Board Chairman, Amb Leonard Iipumbu warned that the impact of worldwide lockdowns on the tourism industry is severe and devastating, and that this stellar performance will probably not be repeated in the current financial year.
Namibia Wildlife Resorts held its Annual General Meeting earlier this week where the results were released. Its shareholder, the government, was represented by the Minister of Public Enterprises, Hon Leon Jooste, and by the Minister of Environment, Forestry and Tourism, Hon Pohamba Shifeta.
For the first time, the AGM was held under the new Commercial State-owned Enterprise Act that came into operation on 16 December last year.
NWR’s Managing Director, Dr Matthias Ngwangwama, said the results summarise the progress made in terms of governance. “There were also improvements in adherence to standard operating procedures. Customer service levels also improved, and positive feedback was received from our customers. The negative media reports that characterised us in the past, also significantly improved. We will continue to build from the successes and improvements recorded in 2019 to improve even more in the 2020 financial year, despite the disruptive and challenging times of Covid-19,” he said.