Government throws N$40 million lifeline to Wildlife Resorts but fails to save jobs
Namibia Wildlife Resorts (NWR) received a grant of N$40 million from the government to help them through the devastation wrought by the worldwide lockdowns. The funds will also help bring the parastatal to good standing with its suppliers and to paper over the retrenchment process currently underway.
The company, which recently embarked on a process of voluntary retrenchments for its staff, received the financial support on 20 October during the 2020/21 mid-term budget review.
The last time the company received such financial support from the shareholder was in the year 2017 for an amount of about N$6 million.
NWR Managing Director Dr Matthias Ngwangwama said the large amount of the funds received will be re-injected in the economy through immediately settling overdue suppliers’ invoices.
“Equally, part of the funds received will be used for our employee costs (our wage bill and the current voluntary separation exercise),” he stated.
