Martin Endjala
Namibia Wildlife Resorts Limited (NWR) made a significant announcement last week, confirming the successful settlement of its N$93 million debt, including all outstanding long-term and statutory debts, some of which dated back to the company’s inception.
These financial obligations encompassed debts owed to development financial institutions and commercial funding organizations, posing a longstanding financial challenge for the organization.
In addition to clearing its long-term debts, NWR has also settled all statutory debts, including historical tax payments owed to the Namibia Revenue Agency.
Matthias Ngwangwama, the managing director of NWR, made the announcement and emphasized that the company’s achievement of becoming debt-free marks a pivotal moment in its financial history.
This accomplishment paves the way for a future characterized by financial stability and growth.
Ngwangwama affirmed the company’s unwavering commitment to promoting sustainable tourism in Namibia.
He expressed NWR’s anticipation of continuing to positively impact the country’s economy and preserve its natural heritage.
This announcement comes shortly before the conclusion of the company’s financial year on October 31, 2023.
Ngwangwama acknowledged that long-term debts had been a persistent challenge since the company’s establishment, commending the dedication of the NWR team to achieving financial sustainability.
The Managing Director further emphasized that this achievement enables the allocation of revenue generated from operations to cover other essential requirements in the future, such as maintenance and employee training and development.
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