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Wildlife Resorts reduces losses by N$77 million

Wildlife Resorts reduces losses by N$77 million

The Namibia Wildlife Resorts (NWR) reduced its losses from N$174 million in 2020 to N$ 97 million in the 2021 financial year, a reduction of N$77 million.

NWR managing director, Dr Matthias Ngwangwama said in order to return to profitability, the company decided to move beyond just providing accommodation facilities, such as the launch of the camera at the waterhole, which has created a huge interest in its resorts.

“We hope with the new innovative ideas and customer experience initiatives that we aim to implement, such as enhanced digital and online presence, group packages for families and runners’ clubs, and other planned activities at our resorts, will enable us to increase our occupancies and enable us to make greater revenue than currently,” added Ngwangwama.

The improved performance is also attributed to, amongst others, the reduction in staff complement through voluntary separation exercise and having the senior management and board members take a 25% cut on their salaries and board fees respectively.

“From a cost-cutting perspective, we continued to implement various cost-cutting measures in 2021, including a reduction in employee costs through voluntary separation. I am in no doubt that the company is now in a position of generating a larger profit than that recorded in 2019” said Janet Wilson- Moore, Vice-Chairperson of the NWR Board.


 

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Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys

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