Windhoek Country Club Resort has recorded a N$69.2 million revenue surge year-on-year for the fiscal year 2023, culminating in a remarkable profit of N$15.3 million, the highest recorded since 2014.
Evans Simataa, Chairperson of the Windhoek Country Club and Resort Board of Directors, revealed that this substantial increase underscores the resilience and appeal of the resort’s offerings in both the Casino and Hotel operations, despite the challenges posed by the global pandemic.
“Despite the challenges posed by the global pandemic, I am delighted to announce that Windhoek Country Club and Resort has navigated through these turbulent times with great fortitude,” said Simataa.
Simataa further expressed delight in the financial turnaround of the resort.
“In 2021, as a consequence of the impact of Covid-19, we recorded losses of N$17.7 million, and in 2022, we reduced the loss to N$4.2 Million,” he stated.
“The strengthening of our financial position is underscored by the impressive increase in our cash reserves from N$34 million at the start of the financial year to N$66.5 million at the end of April 2023,” highlighted Simataa.
Simataa attributed the resort’s ability to weather the storm without employee retrenchments during the pandemic to the dedication of the workforce.
“Our business’s value has not only been preserved but has also improved tremendously, as a good and exemplary corporate citizen, Windhoek Country Club and Resort has initiated a programme investing in excess of N$1 million into various organisations and schools,” Simataa announced.
Celebrating the achievements of the dedicated employees, Simataa announced that several employees received study bursaries at tertiary institutions in Windhoek, and some have been recently promoted.
The board expresses confidence that 2024 is set to be the best financial year in the history of the business, “Our collective efforts, resilience, and strategic vision have positioned WCCR for continued success,” concluded Simataa.
This comes when the resort has also made a meaningful contribution to the state coffers, totalling N$20 million, comprising a declared dividend of N$10 million and an additional payment of N$10 million through the redemption of preferential shares.
“This amount is just a modest contribution, but every drop counts, and we are honoured to have made a positive impact,” Simataa said.
The Windhoek Country Club is a 152 rooms and a casino owned by the government.
