Windhoek Country Club boosts shareholder value with N$25 million dividend
Model
WCCR's success a benchmark for other public enterprises
The Windhoek Country Club and Resort (WCCR) has declared a robust N$25 million dividend for the 2024/25 financial year, marking its second payout since the Covid-19 pandemic disrupted the tourism sector. Board chairman Dr. Evans Simataa hailed the achievement as a testament to WCCR’s resilience and strategic transformation into a premier Namibian tourism destination.
"We are proudly announcing a dividend payment of N$25 million to our valued shareholder for the financial year 2024/25. Most notably, this dividend declaration marks our second consecutive year of returning value to our shareholder following the unprecedented turbulence of the Covid-19 pandemic,” Simataa said after the dividend handover to the government.
According to Simataa, the dividend handover was a testament to the work that had gone into transforming the WCCR into a leading tourism establishment within Namibia.
“You will recall that last year, we declared and handed over a dividend of N$20 million to the shareholder. This distribution of profits is a clear and unequivocal message: that is, our commitment to delivering exceptional value to our esteemed shareholder, is steadfast and unwavering,” he said.
The WCCR was expected to build on past performance owing to projected revenue projections for 2025 and 2026, Simataa said.
“Our financial strength is underscored by our robust total cash reserves, which stood at N$132 million as of April 30, 2025. Looking ahead, we anticipate continued positive momentum, with revenue growth from operations projected to increase by 6% to N$218 million in 2025 and further to N$231 million in 2026, maintaining a steady growth rate of 5% thereafter,” he said.
Director for governance and financial advice within the ministry of finance, Dr. Tjiuee Kaura lauded the WCCR’s financial performance, and said it was incumbent on other commercial public entities to not only emulate the results delivered, but meet corporate governance standards set.
“WCCR is fully compliant because they submit most of their mandatory documents in line with the law. For example, from each and every public enterprise, there is an expectation that you need to submit a five-year integrated strategy business plan,” Kaura said.
“In addition, you also need to submit your annual business and financial plan and your financial gain and you also need to submit your annual report, and I need to emphasise that the WCCR is a front-runner to all these submissions and we do not have anything outstanding,” he added.
WCCR is owned by the government and operated by Legacy Hotels.
"We are proudly announcing a dividend payment of N$25 million to our valued shareholder for the financial year 2024/25. Most notably, this dividend declaration marks our second consecutive year of returning value to our shareholder following the unprecedented turbulence of the Covid-19 pandemic,” Simataa said after the dividend handover to the government.
According to Simataa, the dividend handover was a testament to the work that had gone into transforming the WCCR into a leading tourism establishment within Namibia.
“You will recall that last year, we declared and handed over a dividend of N$20 million to the shareholder. This distribution of profits is a clear and unequivocal message: that is, our commitment to delivering exceptional value to our esteemed shareholder, is steadfast and unwavering,” he said.
The WCCR was expected to build on past performance owing to projected revenue projections for 2025 and 2026, Simataa said.
“Our financial strength is underscored by our robust total cash reserves, which stood at N$132 million as of April 30, 2025. Looking ahead, we anticipate continued positive momentum, with revenue growth from operations projected to increase by 6% to N$218 million in 2025 and further to N$231 million in 2026, maintaining a steady growth rate of 5% thereafter,” he said.
Director for governance and financial advice within the ministry of finance, Dr. Tjiuee Kaura lauded the WCCR’s financial performance, and said it was incumbent on other commercial public entities to not only emulate the results delivered, but meet corporate governance standards set.
“WCCR is fully compliant because they submit most of their mandatory documents in line with the law. For example, from each and every public enterprise, there is an expectation that you need to submit a five-year integrated strategy business plan,” Kaura said.
“In addition, you also need to submit your annual business and financial plan and your financial gain and you also need to submit your annual report, and I need to emphasise that the WCCR is a front-runner to all these submissions and we do not have anything outstanding,” he added.
WCCR is owned by the government and operated by Legacy Hotels.
Comments
Namibian Sun
No comments have been left on this article