Cirrus awards Letshego as best NSX-listed company
At the recent Top Company awards hosted by Cirrus Capital, Letshego Holding Namibia took the honours as the best locally listed company according to Cirrus’ view.
The awards are organised annually by Cirrus Capital and adjudicated by an independent panel.
Letshego Chief Executive, Dr Ester Kali was delighted, saying that the Top Company award confirms their unwavering commitment to solid corporate governance and sustainable growth.
In 2022, Letshego’s profit after tax grew by an impressive 16%, and deposits increased from N$386 million in 2021 to N$536 million in 2022. Furthermore, the company distributed a final dividend of 44.89 cents per share on 15 June 2023, establishing a dividend yield of 18.7%, the highest among NSX local tickers.
Dedicated efforts, innovation, and the diversification of the product portfolio drove this success.
Over the last two years, Letshego Namibia has extended its services beyond government employees, broadening its loan offerings and introducing low-cost transactional bank accounts and high-yield savings products, resulting in impressive growth.
For the award, Letshego was assessed on return, growth and investor relations with the first, Return, weighing 60% of the overall assessment. This includes share price, dividend, net profit, market cap, and RoE. The ‘Growth’ pillar weighed 20% of the overall score with ‘Investor Relations’ making up the remaining 20%.
Dr Kali said these stringent criteria and meticulous evaluation process underscore Letshego’s exceptional performance and unwavering commitment to uphold the highest standards of corporate governance. The Group has successfully implemented its Environmental, Social, and Governance (ESG) framework, guiding its daily operations for sustainable and responsible practices.
Dr Ester Kali, (left) Chief Executive of Letshego Holdings Namibia, and Hon Emma Theofelus, the Deputy Minister of Information and Communication Technology.
