N$40 million for NWR

25 October 2020 | Tourism

Namibia Wildlife Resorts (NWR) received at N$40 million grant from government in the FY2020/21 Mid-Year Budget Review and Medium-Term Budget Policy Statement. The last time the company received such financial support from the shareholder was in 2017 for an amount of about N$6 million.
With the outline of activities and the current conditions, the company is grateful for the support it received. “We are grateful to the shareholder, the Government of the Republic of Namibia, for their assistance. The large amount received, is to be re-injected in the Namibian Eeonomy 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),” NWR Managing Director Dr Matthias Ngwangwama (pictured), said.

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