The Namibia Post and Telecommunications Holdings (NPTH) has paid dividends totalling N$5 billion to the government since its inception in 1992 to date.
According to the group’s financial report, during the 2021/22 reporting year, the company paid N$400 million to the government in dividends, alongside a N$2.5 billion ordinary dividend resulting from MTC’s listing, which was distributed to shareholders.
In the same year, NPTH’s revenue decreased slightly by N$400,000 from N$4.97 billion to N$4.93 billion in 2022.
Despite the group’s revenue decreasing slightly, operational profits remained stable, driven by stringent cost-control measures.
The company’s net profit increased by 10% compared to the previous financial year, from N$951 million to N$1.046 billion.
The group also reported asset growth of 5% to N$15.8 billion attributed to strategic investments in infrastructure, software, and cash reserves.
The group’s financial report, released for the first time since its establishment, revealed that MTC, NamPost, and Telecom Namibia, declared dividends to the holding company for the first time since its establishment.
MTC, NamPost, and Telecom Namibia declared dividends of N$356.25 million, N$8 million and N$10.57 million respectively for the reporting year.
“As the largest telecommunications service provider, NPTH must ensure that the three subsidiaries under its supervision, namely Telecom Namibia, MTC, and NamPost, are successful, especially in terms of financial sustainability,” the report read.
The report stated that a significant achievement during the reporting period was the successful listing of MTC on the Namibian Stock Exchange (NSX).
NPTH facilitated the listing by offering 49% of its MTC shares to the public, generating revenue of N$2.541 billion.
Despite the economic challenges, MTC reported consistent financial performance, maintaining a track record of growth in total income and net profit. Similarly, NamPost experienced revenue growth, with operating expenses and profit before tax increasing significantly.
