Windhoek Country Club Resort declares N.dollars 6 million dividend

24 Oct 2018 18:10pm
WINDHOEK, 24 OCT (NAMPA) – The Windhoek Country Club Resort and Casino (WCCR) declared a dividend of N.dollars 6 million to the government for the 2017/18 financial year.
Handing over the dividends to the shareholder - the Ministry of Environment and Tourism - here on Wednesday, WCCR Chairperson Sven Thieme said given the current economic situation in the country, the resort was able to maintain a high performance which yielded good results.
He noted that the company managed to grow the assets base of the company from N.dollars 174 million in 2009 to over N.dollars 329 million in 2017.
“I am delighted with the results achieved at WCCR. As we all know the economy has been facing tough times for the past two years and this also has an impact on certain aspects of the business,” he said.
Highlighting the financial year’s achievements, Thieme said N.dollars 65 million was, among others, spent on hotel refurbishment, putting up a solar energy plant to save money and electricity.
Minister of Environment and Tourism Pohamba Shifeta, who received the symbolic dividend cheque, said over the years WCCR has proven itself as a reputable company, and declaring dividends to the shareholder during the current tough economic times proves its dependable position.
“This is a clear testimony that the board and management are running the company with integrity and in a prudent manner,” he said.
He noted it is imperative that WCCR does not rely on its shareholders for bailouts, like many other State commercial companies.
“We do not just want to hear parastatals asking for bailouts year after year, therefore the board and management should share experiences on good governance with their fellows in the country,” said Shifeta.
He also said WCCR must continue to grow and provide visitors with exceptional experiences and find demand driven and innovative national marketing strategies based on domestic, regional and international tourism.