The state-owned Windhoek Country Club Resort and Casino’s revenue grew to N$205.6 million in the 2023/24 financial year.
This revenue is expected to increase 6% to N$218 million in 2025 and further to N$231 million in 2026.
Country club board chairperson Evans Simataa says the global hospitality industry faced profound disruptions during the Covid-19 pandemic, however, the company has been able to recover.
“Our ability to not only recover but to flourish in this post-pandemic era is a powerful testament to our robustness,” says Simataa.
The resort’s total cash reserves stood at N$132 million as of 30 April.
“Looking ahead, we anticipate continued positive momentum, with revenue growth from operations projected to increase by 6%, and maintaining a steady growth rate of 5% thereafter,” says Simataa.
A dividend of N$25 million has been paid to the government, a N$5 million increase from what was declared last year.
He says total expenditures have remained stable at 7%, with a further two-digit reduction noted, ultimately settling at a sustainable 5% increase in subsequent years.
Additionally, the resort reported that the operating expenses as a percentage of revenue are well within sustainable levels, at 79% in 2025.
“We have a target of maintaining a healthy 74% in operating expenses as a percentage of revenue for the following financial periods,” says Simataa.
He says the company is able to operate with going concern and will not need any bailouts.
“We are confident that Windhoek Country Club Resort is unlikely to require shareholder funding in the short term, a testament to the maturity and sound management of our business,” says Simataa.
The company also supported several charities with a total expenditure of N$1.3 million in 2025.
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