Namibia Wildlife Resorts Limited (NWR) has resolved to slush salaries of its senior management by 25 percent as part of its cost containment measures, amid the negative impact of COVId-19 on the country’s tourism sector.
“For the past six months, all tourism companies have been severely affected by Covid-19. Namibia Wildlife Resorts Limited (NWR) being one of the dominate players was not spared from the impacts of the pandemic. With the negative effect on the operations of the business, NWR has had to pursue extensive cost-cutting and revenue-enhancing measures that enabled it to continue as a going concern,” NWR Corporate Communications, Online Media and Sponsorships Manager, Mufaro Nesongano, said.
“Whilst we aggressively cut-costs and continue to do so, we are not making any significant revenue at the moment. With Covid-19 being a part of us for the foreseeable future, our Board, Managing Director and Senior Management, with an E-Patterson grading, took a decision earlier this month to cut their salaries by 25 percent, effective from September 2020.”
NWR Managing Director, Dr Matthias Ngwangwama said the company decision is expected to contribute to the sustainability of the business.
“It must be noted that this is not a populist decision but a deep-seated desire from the NWR Board and Senior Management team to ensure the company’s longevity and survival. “It is no secret that we play a vital role within the tourism sector as well as the Namibian economy. Thus, this decision is aimed at providing the company with further savings as we continue in uncharted waters,” he said.
The announcement by NWR comes as the country’s tourism sector has been hard hit due to the outbreak of COVID-19 and recently opened its boarders to foreign travelers.
The international tourism revival initiative is a government driven plan aimed at providing a lifeline to the country’s tourism sector which is on the verge of collapse due to the closure of boarders to international travelers as part of measures to curb the spread of COVID-19.