CHAMWE KAIRA
Letshego Holdings (Namibia) Limited has said in interim results for the year ended 30 June, that operating profit increased by 18% to N$219 million compared to N$186 million in the year ended June 2023.
Profit after tax increased by 16.3% to N$199 million compared to N$171 million in the same period last year.
The group said Letshego Bank (Namibia) Limited capital adequacy ratio improved by 3% to 35%.
Letshego’s said strong business fundamentals, coupled with significant advancements in governance and sustainability frameworks, positioned the company to capitalize on the benefits and potential generated by the initial phases of our strategic roadmap.
“As we approach the final stages, our efforts are closely aligned with our sustainability goals, emphasizing the integration of our expanding ecosystem. Whilst we celebrate the milestones achieved through our transformational strategy, we recognize that the journey is continuous. As we move forward, it remains imperative that we maintain momentum and remain adaptive to volatile market dynamics. Through our agile ways of working, embracing technology and nurturing strong partnerships, we are well-equipped to navigate the evolving financial services landscape and create long-term value for all stakeholders,” the company said.
Basic Earnings per share (cents) increased by 16.3% to 40 cents. Net Asset Value per share (cents) increased by one percent to N$552.
Number of ordinary shares in issues is five million. Letshego Holdings declared a dividend of N$181.9 million (36.38 cents per ordinary share) during June to the ordinary shareholders of Letshego Holdings (Namibia) Limited.
Letshego Holdings Namibia (LHN) opened its doors in 2002 as Edu Loan Namibia, providing consumer and micro-lending services. LHN is 79%t owned by Letshego Holdings Limited (LHL), a Botswana Stock Exchange (BSE) listed entity. LHN focuses on offering financially inclusive solutions to underserved low to middle-income earners across both the public and private sectors, as well as supporting Micro and Small Entrepreneurs (MSE) through its deduction at source model and other access channels. Letshego Bank Namibia now has a branch network of 17 branches across the country, of which six offer fully-fledged banking services. LHN has a staff complement of over 150 employees and provides loans to over 50 000 customers.
