NWR has managed to cut its operating loss by 66%, from N$97 million in 2021 to N$33 million in 2022 while at the same time its revenue improved by 74%, from N$167 million in 2021 to N$290 million.
This is contained in the firm’s 2022 annual report in which the parastatal notes that this remarkable effort reflects NWR’s dedication to sustainability and innovation, as well as its on-going efforts to streamline operations and enhance customer experience.
“While NWR is still in a loss-making situation, the company’s management is confident that if the same improvement trend continues, a profit is certain in the near future. NWR remains committed to delivering exceptional service to its guests and exploring new ways of enhancing its service offerings.
“In addition to financial performance, NWR is proud to report that it is in compliance with statutory requirements and governance regulations. The Governance Agreement and board members’ Performance Agreements with the Shareholder, as envisaged by the Public Enterprises Governance Act, 2019 (Act No.1 of 2019) are being finalised, ensuring that NWR continues to uphold the highest standards of corporate responsibility,” the company said in a statement.
The Minister of Finance and Public Enterprise, Iipumbu Shiimi congratulated NWR for once again setting a great example in presenting its audit report on time. “Allow me to thank the NWR team for setting a great example in finalising its audit on time. This is not something that is common in the State Owned Enterprise sector. This achievement reflects the hard work and dedication of the entire NWR team, and it underscores the company’s commitment to transparency and accountability,” he said.
The Chairman of the NWR Board, Ambassodor Haroldt /Urib highlighted NWR’s commitment to ensuring Namibians get an opportunity to experience leisure travel.
“As in previous years, NWR is dedicated to introducing specials and discounts to its domestic market, aimed at encouraging domestic travellers to sign up for, and use, the Namleisure card. The Namleisure card entitles Namibians to a 50% discount on accommodation and is aimed at promoting tourism within the country. The company is pleased to note that new cardholders for the domestic market continue to grow, providing an opportunity for Namibians to visit and know their own country,” he said.