Letshego Holdings Namibia (LHN) recorded a 25% rise in profit after tax to N$249 million for the six months ended 30 June 2025, compared to N$199 million in the same period last year.
Chief Executive Officer Ester Kali said the growth was driven by higher interest income and increased loan advances.
“Total revenue increased 17% year-on-year, mainly driven by growth in interest income, that increased by 21%,” she said. Net interest income climbed 40% to N$352 million, which Kali attributed to “a 16% rise in net advances to customers and the repricing of low-interest loans.”
Kali said a dividend of N$219.4 million (43.88 cents per ordinary share) was paid by the Group during the June 2025 period to the ordinary shareholders of Letshego Holdings (Namibia) Limited.
She added that the Board has also declared an interim dividend for the same period, subject to regulatory approval, with salient dates to be announced once approval is obtained.
She said the Group’s capital position remained robust, with a capital adequacy ratio of 30%, and that it had reduced reliance on intercompany and equity funding by increasing its local funding base to N$2.8 billion.
Customer deposits, she noted, rose from N$1.048 billion in June 2024 to N$1.188 billion in June 2025.
During the reporting period, LHN issued N$108 million in three-year senior unsecured notes and N$102 million in five-year senior unsecured notes on the Namibia Stock Exchange. Asset quality also improved, with the loan loss ratio dropping to 0.16% from 0.2%, and non-performing loans falling to 4.85% from 5.93% a year earlier.
Kali said operational efficiency improved, with the cost-to-income ratio declining to 44% from 45%, while return on average equity increased to 18% from 15% and return on average assets rose to 7% from 6%. Earnings and headline earnings per share grew to 50 cents from 40 cents in 2024.
She added that the results reflect the momentum of the Group’s L.A.S.E.R. strategy, which “focuses on customer-centricity, digital expansion and innovation.” She highlighted that upgrades to the LetsGo Digital Mall and USSD platforms, along with strategic partnerships, were “supporting broader product access, including expanded LetsGo Insurance offerings.”
“Looking ahead, the Group will focus on expanding digital access through its mobile banking app and USSD services, enhancing customer experience, and investing in information and cyber security to maintain client trust,” Kali said
