Windhoek, 25 October 2020 – Since mid-March 2020, when Covid-19 broke out in Namibia, the Namibia Wildlife Resorts Limited (NWR) board and management worked closely with their shareholder (Government of the Republic of Namibia through the Ministry of Public Enterprises) to find ways of mitigating the effects of the pandemic and ensuring the sustainability of the company.
Therefore, as the company has consistently communicated before, the past six months have been the most challenging for most Namibian companies in Namibia. The Covid-19 pandemic has and is still having, an enormous impact on the tourism and aviation-dependent organisations worldwide. Most, if not all, shareholders, company boards, executive management, in private and public sectors alike, have done the same in being first concerned with the wellbeing of their organisations.
It is therefore humbling that through the numerous interactive efforts between NWR and the shareholder since March 2020, a net outcome from these efforts is the N$40 million support availed on 20 October 2020 to the company in the FY2020/21 Mid-Year Budget Review and Medium-Term Budget Policy Statement. The last time the company received such financial support from the shareholder was in the year 2017 for an amount of about N$6 million.
With the outline of activities and the current conditions, the company is grateful for the support it has received. “We are therefore grateful to the shareholder, the Government of the Republic of Namibia, for their assistance in the current times. The large amount of the funds received are to be re-injected in the Namibian Economy through immediately settling overdue suppliers’ invoices. Equally, part of the funds received will be used for our employee costs (our wage bill and the current voluntary separation exercise)” says Dr Matthias Ngwangwama, NWR Managing Director.