CHAMWE KAIRA
Momentum Group reported increased new business volumes in Namibia for the financial year ended 30 June 2026, driven by higher retail sales and growth in corporate protection business.
The South African financial services group said Momentum Africa recorded strong new business volumes during the year, supported by increased corporate protection business in Lesotho, Namibia and Botswana, as well as increased retail new business volumes in Namibia.
At group level, new business sales, measured by present value of new business premiums (PVNBP), increased 18% to N$93.8 billion.
The group said Momentum Retail recorded strong growth in long-term savings new business, while Momentum Investments achieved growth on its Wealth platform, partly offset by lower guaranteed annuity sales.
Momentum Corporate also recorded new business growth, supported by large single-premium structured investment and living annuity deals, as well as FundsAtWork business.
Momentum Group’s value of new business (VNB) increased to N$491 million from N$469 million, with all business units contributing positively except Momentum Investments. The group’s overall new business margin declined to 0.5%.
For the year ended 30 June 2026, Momentum Group reported normalised headline earnings of N$7.06 billion, an increase of 13% from the previous year. The group said this exceeded its N$7 billion impact strategy ambition one year ahead of target.
Operating profit increased 9% to N$5.97 billion from N$5.48 billion.
The group said Momentum Africa’s operating profit also improved during the year, contributing to the overall earnings performance.
Normalised headline earnings per share rose 18% to 530 cents from 451 cents, while headline earnings per share increased 18% to 528.7 cents from 446.9 cents.
The group said its solvency position and liquidity resilience remained strong relative to its internal targets, supported by capital optimisation initiatives.
It also said higher underlying earnings and a lower discount rate increased embedded value per share to N$50.60 from N$42.51.
Momentum Group said it plans to increase its use of artificial intelligence and automation to improve accuracy, decision-making and capacity, while continuing to invest in digital skills and tools.
