The Windhoek Country Club Resort (WCCR) on Friday declared and handed over a N$25-million dividend to the Ministry of Finance.
The official handover took place at the resort between Evans Simataa, the chairperson of the WCCR board of directors, and Tjiuee Kaura, the director for governance and financial advice in the finance ministry.
Simataa at the event said the dividend marks a continuation of its financial contributions to the state and its ongoing profitability as a government-owned enterprise.
“We achieved a clean audit from our external auditors, successfully expanded our market share in both the hospitality and gaming sectors, and our occupancy rates have rebounded,” he said.
He attributed these outcomes to the dedication of the board and staff and the implementation of strategic improvements.
Simataa also reported progress in digital transformation.
“We have made significant strides in investing in our digital infrastructure, resulting in enhanced operational efficiency and superior guest experience,” he said.
As of 30 April, WCCR held total cash reserves of N$132 million.
Forecasts for operational revenue project a 6% increase to N$218 million in 2025 and further growth to N$231 million in 2026.
The company expects this to continue with an annual 5% increase thereafter.
Expenditures are projected to remain stable, with an initial 7% rise expected to reduce to a 5% annual increase in subsequent years.
Operating expenses as a percentage of revenue stood at 79% in 2025, with a target of 74% for upcoming financial periods.
“WCCR is projected to generate profit year on year in the foreseeable future, with a sound balance sheet underpinned by a low level of debt,” Simataa said.
The resort also allocated N$1.3 million to charitable organisations in 2025, with a budgeted N$1.4 million for the next financial year.
Looking ahead, Simataa noted two upcoming milestones.
“We are particularly thrilled about upcoming developments, including our state-of-the-art swimming pool complex and the 30th anniversary celebrations of WCCR on 21 May 2025,” he said.
Receiving the dividend, Kaura praised the resort’s performance and its compliance with financial governance.
“Most of our public enterprises are non-compliant and need a bailout by the government.
“I am thankful that WCCR is fully compliant and encourage you, the board and team to continue with your achievements,” he said.
Kaura emphasised the importance of self-sustaining public enterprises.
“To build and develop this country, we need to be productive, remain busy and focus on the right things,” he said.
– Nampa
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