The Minister of Environment and Tourism, Pohamba Shifeta has reappointed the Board of Directors of the Namibia Wildlife Resorts for another three years’ effective the 15th of June.
Speaking at the press conference for the inauguration of the Board, Shifeta sited the Board’s hard work and contribution to the NWR’s achievements in the past three years.
“Since 2016 when the Board took over, the NWR has been producing good results”, remarked Shifeta. He highlighted that under the reappointed Board, cost of sales reduced from a 60% in 2016, to a 50% in 2017, and the industry benchmark of 35% in 2018.
Furthermore, from a loss of N$30 million in earnings before interest, tax and depreciation in 2016, NWR has managed to an operational profit of N$15 million in 2017, and N$23 million in 2018. As a result, no government subsidy was given to NWR for the past three years, since the year 2015, added the Minister.
Even though the company recorded losses after accounting for depreciation and interest, the minister commended the board for cutting the losses by 50% from N$88 million to N$39 million in 2016 and by 43% to N$22 million in 2018.
On his part, Minister of Public Enterprises Leon Jooste also expressed his delight in NWR’s performance and further stated that he would want to see the company declare dividends to the shareholder in the future.
Chairperson of the reappointed Board Leonard Nangolo Iipumbu assured that the board will work hard to meet the expectations of the shareholder.
The re-appointed members are: