NWR gets N.dollars 40 million from Govt

Namibia Wildlife Resorts (NWR) said it has received N.dollars 40 million from Government through the Ministry of Public Enterprises.

In a media statement on Sunday, NWR said since the outbreak of COVID-19, it has worked closely with Government to find ways of mitigating the effects of the pandemic and ensuring the sustainability of the tourism and leisure company.

“It is therefore humbling that through the numerous interactive efforts between NWR and the shareholder, a net outcome from these efforts is the N.dollars 40 million support availed on 20 October 2020 to the company in the 2020/21 Mid-Year Budget Review and Medium-Term Budget Policy Statement,” said the statement.

It added that the last time NWR received such financial support from its shareholder was in the year 2017 and it received N.dollars 6 million.

“We are therefore grateful to the shareholder, the government for their assistance in the current times. The [bigger part] of the funds received are to be re-injected in the Namibian economy through immediately settling overdue suppliers’ invoices. Equally, part of the funds received will be used for our employee costs, our wage bill and the current voluntary separation exercise,” Matthias Ngwangwama, NWR Managing Director is quoted as saying in the statement.

Source: Namibia Press Agency