The Windhoek Country Club Resort and Casino (WCCR) has announced a N$25 million dividend payout to the government for the 2023/24 financial year during a handover ceremony, marking the second consecutive year of shareholder returns.
The resort is projecting a 6% increase in operational revenue, reaching N$218 million in 2025, with continued growth forecast for the following year.
“Our financial strength is underscored by our robust total cash reserves, which stood at N$132 million as of 30 April 2025. Today, we are proudly announcing a dividend payment of N$25 million to our valued shareholder for the 2023/24 financial year,” Chairperson of the WCCR Board, Evans Simataa said.
Reflecting on the recovery following the COVID-19 pandemic, Simataa noted the consistent performance in shareholder returns. “You will recall that last year, we declared and handed over a dividend of N$20 million to the shareholder,” he said.
He emphasized the importance of this trend as part of the Country Club’s long-term value strategy.
“This distribution of profits sends a clear and unequivocal message: our commitment to delivering exceptional value to our esteemed shareholder is steadfast and unwavering,” Simataa said.
Looking ahead, WCCR anticipates revenue from operations will increase to N$231 million in 2026, representing a steady annual growth rate of 5%.
“Looking ahead, we anticipate continued positive momentum, with operational revenue projected to increase by 6% to N$218 million in 2025 and further to N$231 million in 2026,” Simataa said.
He further noted that operational expenditure is expected to stabilize at sustainable levels, supporting long-term profitability.
“We anticipate our total expenditure to remain generally stable at 7%, with a further double-digit reduction anticipated, ultimately settling at a sustainable 5% increase in subsequent years,” he said.
WCCR also plans to reduce its operating expenses as a percentage of revenue from 79% in 2025 to 74% in future periods.
The resort’s financial health remains solid, with profits expected year-on-year and no short-term need for shareholder funding.
“WCCR enjoys a healthy cash flow position, providing a strong foundation for sustained operations over the next five years,” Simataa said.
He further stressed that the dividend is part of a deliberate and balanced financial approach and highlighted the Country Club’s strong audit performance and regained market strength.
WCCR has also made significant progress in digital infrastructure and guest experience enhancements.
“We have made significant strides in investing in our digital infrastructure, resulting in enhanced operational efficiency and a superior guest experience,” Simataa said.
On corporate responsibility, WCCR spent N$1.3 million on charitable activities in 2025 and has allocated N$1.4 million for 2026.
Simataa also previewed new projects in the pipeline, including a modern swimming facility.
“We are particularly thrilled about upcoming developments, including our state-of-the-art swimming pool complex,” he said.
