Namibia Wildlife Resorts (NWR) has cleared all statutory debts, amounting to over N$93 million, including historical tax payments owed to the Namibia Revenue Agency (NamRa).

NWR announced its debt-free milestone in a media statement after settling all its outstanding long-term and statutory debts successfully, some of which date back to its foundation.

These debts included financial obligations to both development financial institutions and commercial funding organisations, posing a long-standing financial challenge for the company.

Its Managing Director, Dr. Matthias Ngwangwama, is delighted at this remarkable accomplishment, acknowledging that long-term debts have been a persistent challenge since the company's inception.

What was more commendable, says Dr. Ngwangwama, is the fact that the company was able to pay off its debts just two years after the COVID-19 outbreak, which nearly devastated the tourism industry.

The settling of the debts means NWR can now allocate the revenue generated from its operations to cover other essential requirements, such as maintenance and employee training and development, in the future.

The company remains dedicated to promoting sustainable tourism in Namibia and looks forward to continuing its positive impact on the country's economy and natural heritage, concludes Dr. Ngwangwama.