Letshego Holdings Namibia Wins 2023 Best Locally Listed Company Award

WINDHOEK—Letshego Holdings Namibia garnered the title of 2023 Best Locally Listed Company at the esteemed Namibia Top Company Awards ceremony held in the capital city this Thursday.

According to News Releases by Namibia Press Agency, the annual awards event, orchestrated by Cirrus Capital and evaluated by an independent panel, aims to recognize extraordinary achievements by Namibian businesses. Ester Kali, the Executive Officer of Letshego Holdings Namibia, stated that the accolade reflects the company’s ongoing commitment to excellent corporate governance and sustainable growth, while also bringing social and economic advantages to a broader Namibian audience.

Kali noted that despite financial challenges including rising interest rates and increased competition in loan rates, Letshego Namibia showed remarkable growth in the 2022 Fiscal Year. Profit after tax increased by 16%, and deposits climbed from N.dollars 386 million in 2021 to N.dollars 536 million in 2022. The company declared a final dividend of 44.89 cents per share on June 15, 2023, marking an 18.7% dividend yield, the highest among NSX local listings.

The criteria for the Best Locally Listed Company category were outlined by Kali as based on return, growth, and investor relations management. Return accounted for 60% of the overall assessment, which included share price appreciation, dividend yield, net profit to market capitalization, and return on equity. Growth contributed 20%, taking into account revenue and profit growth, while investor relations comprised the remaining 20%, supported by an independent survey conducted by Cirrus.