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After more than 20 years, Namibia Wildlife Resorts declares profit

Christian Fernsby |
After more than 20 years, Namibia Wildlife Resorts (NWR) managed to record a profit for the first time since it was created in 1999.

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Topics: NAMIBIA   

According to NWR chairman Ambassador Leonard Iipumbu, the institution recorded a profit of N$22 million this past financial year, which he noted is a N$41 million improvement on the 2018 financial year.

"We achieved this by increasing our revenue by 11% compared to the 2018 financial year and by keeping our operating expenses flat, despite inflationary pressures," said Iipumbu at NWR's Annual General Meeting (AGM), which was held on 20 July 2020 to review the past year's operations and present its 2018 2019 financial results.

Shareholder was represented by the Minister of Public Enterprise, Leon Jooste, and the Minister of Environment, Forestry and Tourism, Pohamba Shifeta.

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