Namibia Wildlife Resorts (NWR) reported a 66% reduction in its losses to N$33 million in 2022 from N$97 million in the prior comparable year amid optimism from the company on recording profits in the near future.
According to the company’s latest financial report, NWR received a clean audit acclamation.
This comes after the hospitality entity forecasts a breakeven position for the 2023/24 financial year, as it seeks to rescue itself from a history of recording losses.
Although the entity is still in a loss-making situation, the company’s management is confident that if the same improvement trend continues, a profit is certain in the near future.
According to the latest financials, NWR’s revenue improved by 74%, from N$167 million in 2021 to N$290 million in 2022.
“This achievement reflects the hard work and dedication of the entire NWR team, and it underscores the company’s commitment to accountability,” said Minister of Finance and Public Enterprises Iipumbu Shiimi.
Additionally, it is reported that NWR is in compliance with the statutory requirements and governance regulations.
Equally, the governance agreement and board members’ performance agreements with the shareholder, as envisaged by the Public Enterprises Governance Act, 2019 (Act No.1 of 2019) are being finalised, ensuring that NWR continues to uphold the highest standards of corporate responsibility.
The Chairman of the board, Ambassador Haroldt /Urib highlighted NWR’s commitment to ensuring Namibians get an opportunity to experience leisure travel.
“As in previous years, NWR is dedicated to introducing specials and discounts to its domestic market, aimed at encouraging domestic travellers to sign up for and use, the Namleisure card. The Namleisure card entitles Namibians to a 50% discount on accommodation and is aimed at promoting [the domestic tourism market].”
NWR is a government-owned entity that runs about 20 resorts and campsites nationwide.
