Johannes Paulus
THE Namibia Wildlife Resorts Limited (NWR) has announced an improved financial performance at the recently concluded Annual General Meeting that took place on 17 May 2022 in Windhoek.
The Managing Director of the NWR, Dr Matthias Ngwangwama announced that the company had reduced its losses from N$174 million in the year 2020 to N$97 million in the financial year 2021, an improvement of 44% or N$77 million.
“We have devised a strategy that will allow us to return to profitability. The strategy involves moving beyond just providing facilities. The launch of our NWR camera at the waterhole has created a huge interest in our 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 we currently are,” Dr Ngwangwama said.
The improved performance is attributed to 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 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.
Deputy Minister of Finance, Maureen Hinda-Mbuende expressed her appreciation to the NWR board for setting an example by cutting their fees and for seeing through their two three-year terms which come to an end in June 2022.
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