NWR thrown N$40m lifeline
The last time NWR received such financial support from government was in 2017, when it received a grant to the tune of about N$6 million.
26 October 2020 | Tourism
STAFF REPORTER
WINDHOEK
The Namibia Wildlife Resorts (NWR) has received a N$40 million support grant from government, which it will partly use for its voluntary employee separation exercise and settling overdue supplier invoices.
According to NWR, its board and management has worked closely with government, through the tourism ministry, since mid-March when the coronavirus pandemic hit in Namibia, in order to find ways of mitigating the effects and ensuring the sustainability of the company.
“The past six months have been the most challenging for most Namibian companies in the country. The coronavirus pandemic has and is still having an enormous impact on tourism- and aviation-dependent organisations worldwide.
“Most, if not all, shareholders, companies, boards and executive management in private and public sectors have done the same in being the first concerned with the well-being of their organisations,” NWR said.
Reinjecting funds
According to the company, through interactive efforts with government, the grant was made available in last week’s mid-year budget review.
The last time NWR received such financial support from government was in 2017, when it received a grant to the tune of about N$6 million.
"We are grateful to the government for their assistance in current times. A large amount of the funds received will be reinjected into the Namibian economy through immediately settling overdue supplier invoices.
“Equally, part of the funds received will be used for our employee costs, our wage bill and the current voluntary separation exercise,” said NWR managing director Dr Matthias Ngwangwama.
NWR recently announced that it will embark on voluntary separation exercise to align its staff numbers in light of the impact the pandemic is having on the tourism sector.
WINDHOEK
The Namibia Wildlife Resorts (NWR) has received a N$40 million support grant from government, which it will partly use for its voluntary employee separation exercise and settling overdue supplier invoices.
According to NWR, its board and management has worked closely with government, through the tourism ministry, since mid-March when the coronavirus pandemic hit in Namibia, in order to find ways of mitigating the effects and ensuring the sustainability of the company.
“The past six months have been the most challenging for most Namibian companies in the country. The coronavirus pandemic has and is still having an enormous impact on tourism- and aviation-dependent organisations worldwide.
“Most, if not all, shareholders, companies, boards and executive management in private and public sectors have done the same in being the first concerned with the well-being of their organisations,” NWR said.
Reinjecting funds
According to the company, through interactive efforts with government, the grant was made available in last week’s mid-year budget review.
The last time NWR received such financial support from government was in 2017, when it received a grant to the tune of about N$6 million.
"We are grateful to the government for their assistance in current times. A large amount of the funds received will be reinjected into the Namibian economy through immediately settling overdue supplier invoices.
“Equally, part of the funds received will be used for our employee costs, our wage bill and the current voluntary separation exercise,” said NWR managing director Dr Matthias Ngwangwama.
NWR recently announced that it will embark on voluntary separation exercise to align its staff numbers in light of the impact the pandemic is having on the tourism sector.
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