We are no longer receiving bail outs-NWR...as CEO boasts increased revenues
March 19, 2018, 4:52pm
A huge cut in the budget allocation for public enterprises spells an ugly year for loss making SOEs, yet chief executive officer for the Namibia Wildlife Resorts, Zelna Hengari, is set to have peaceful nights with revenues at the entity ticking up.
In a media engagement at Gross barmen last week, Hengari boasted that her entity will no more be sending the begging bowl to treasury as most entities do, thus forestalling any damages to business especially in this difficult year where government remains under cash-pressures.
Audited financials for NWR stemming from the 2015/16 calendar-year show revenues standing at N$312 million while provisional results for 2016/17 record revenues having edged to N$333 million.
Operating income is set to jump up by N$27 million from last year.
Adding this to unaudited operating income of N$33 million leaves NWR with a total of N$367 million for the year under review.
This financial year’s budget has drastically reduced expenditure for SOEs with an allocation of N$4,6 from that of N$6.4 billion in 2016/17.