By Confidente Reporter
The Zambezi Waterfront & Tourism Park (Pty) Ltd (ZWTP) has been a given light to operate by the Namibia Tourism Board (NTB).
This is an outcome of a lengthy process where the ZWTP was found to be non-compliant with the NTB standards and requirements to operate as an accommodation establishment, ZWTP Acting Chief Executive Officer, Jerome Mutumba has said.
Announcing the outcome of the accreditation process, Mutumba, said that this has been one of his priorities to ensure that the company gets in good standing with all the regulatory requirements and be accorded a going concern status in preparation for a possible public-private partnership that is envisaged by the Board of directors as a new business model.
The board announced the closure of the ZWTP operations in February due to non-compliance with the NTB requirements and lack of financial controls at the company leading to financial loses. Mutumba has since been brought on board to help the board to put controls in place and guide the board on a new business model that will place ZWTP on a sustainable trajectory. Last month the company announced the completion of a retrenchment process where 42 employees were let go after an agreements reached with NAPWU.
ZWTP continues to be under care and maintenance in the interim until such a time when the board has explored all possible PPP opportunities. Mutumba further announced that ZWTP is about to conclude a service level agreement for preventative maintenance with the Zambezi Vocational Training centre. This, Mutumba argues, will help to maintain and restore value for the ZWTP assets while simultaneously helping to provide commercial opportunity for the Zambezi Vocational Training centre.
Mutumba is on secondment from the Development Bank of Namibia.
Confidente. Lifting the Lid. Copyright © 2015