Windhoek: The Windhoek Country Club Resort (WCCR) on Friday declared and handed over a N.dollars 25 million dividend to the Ministry of Finance and Public Enterprises. The official handover took place between Evans Simataa, chairperson of the WCCR board of directors, and Tjiuee Kaura, the director for governance and financial advice in the ministry.
According to Namibia Press Agency, Simataa stated that the dividend represents the resort’s ongoing financial contributions to the State and its profitability as a government-owned enterprise. He highlighted that WCCR achieved a clean audit from external auditors, expanded its market share in hospitality and gaming sectors, and saw a rebound in occupancy rates.
Simataa attributed these achievements to the dedication of both the board and staff and the implementation of strategic improvements. He also reported progress in digital transformation, citing significant investments in digital infrastructure that have enhanced operational efficiency and guest experience.
As of 30 April 2025, WCCR held total cash reserves of N.dollars 132 million. The company forecasts a 6 per cent increase in operational revenue to N.dollars 218 million in 2025, with further growth to N.dollars 231 million in 2026. It expects an annual 5 per cent revenue increase thereafter, while expenditures are projected to remain stable, initially rising by 7 per cent, then reducing to a 5 per cent annual increase. Operating expenses as a percentage of revenue stood at 79 per cent in 2025, with a target of 74 per cent for upcoming financial periods.
Simataa projected continued profitability for WCCR, supported by a sound balance sheet and low debt levels. The resort allocated N.dollars 1.3 million to charitable organizations in 2025, with a budget of N.dollars 1.4 million for the next financial year. He also announced two upcoming milestones: the development of a state-of-the-art swimming pool complex and the 30th anniversary celebrations of WCCR on 21 May 2025.
Upon receiving the dividend, Kaura praised the resort’s performance and its adherence to financial governance. He noted that most public enterprises require government bailouts due to non-compliance, but he commended WCCR for its compliance and encouraged the board and team to continue their achievements.
Kaura emphasized the importance of self-sustaining public enterprises, stating that productivity and focusing on the right priorities are essential for national development.