- Awards recognise exceptional achievements of Namibian companies
Letshego Holdings Namibia Ltd (Letshego Namibia) won the 2023 Best Locally Listed Company award at the prestigious Namibia Top Company Awards in Windhoek recently.
Organised annually by Cirrus Capital and judged by an independent panel, the national awards seek to recognise the exceptional achievements of Namibian companies.
The Country CEO of Letshego Namibia, Ester Kali, said the independent industry recognition denotes Letshego Namibia’s unwavering commitment to exemplary corporate governance and sustainable growth in its day-to-day operations, all while delivering social and economic benefits to more Namibians.
Appropriate financial solutions
Group Chief Executive of Letshego Africa Holdings Limited, Aupa Monyatsi, commented: “Ester Kali, our Namibia CEO, and the Namibia Country Team remain steadfast and dedicated to extending the reach of simple, affordable and appropriate financial solutions to more Namibians.
“This accolade is recognition of the teams’ collective hard work and commitment. On behalf of Letshego Africa, we are proud to congratulate our Namibian family, and continue to support their unrelenting efforts in increasing social impact and sustainable shareholder returns.”
The Best Locally Listed Company category centered around three fundamental assessment criteria: return, growth, and investor relations management. The return accounted for 60 percent of the overall assessment, including share price appreciation, dividend yield, net profit to market capitalisation, and return on equity.
Investor Relations
Growth contributed 20 percent to the overall score, considering revenue and profit growth. Investor Relations made up the remaining 20 percent and was supported by a survey assessing interactions, the quality of information distributed to stakeholders, and integrated reporting, all independently conducted by Cirrus.
These stringent criteria and meticulous evaluation process underscored Letshego Namibia’s exceptional performance and unwavering commitment to upholding the highest standards of corporate governance. Despite economic challenges faced during the 2022 financial year, among them, higher interest rates, reduced affordability, and intensified competition in lending rates, Letshego achieved remarkable results.
Profit after tax grew by an impressive 16 percent and deposits went up from N$386 million in 2021 to N$536 million in 2022. Letshego Namibia distributed a final dividend of 44.89 cents per share on 15 June 2023, establishing a remarkable dividend yield of 18.7 percent, the highest among NSX local tickers.
ESG policy
Innovation and product diversification drove this inclusive finance subsidiary’s success. Over the last two years, Letshego Namibia has extended its services beyond government employees, broadening customer choice in products, introducing low-cost transactional bank accounts, and extending access to high-yield savings solutions.
Letshego Namibia is progressing well with integrating its Environmental Social and Governance (ESG) policy, promoting the value for companies to adopt sustainable and responsible business practices and boosting long-term shareholder value.
