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Financial Reports
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Released 31 December 2023
Annual Financial Statements for the year ended 31 December 2023
The Annual Financial Statements for Letshego Holdings (Namibia) Limited reported a marginal increase in Profit for the year (N$353.3 million) and robust growth in total assets to N$6.80 billion, even as the Group faced a slight decrease in profit before taxation, navigated changes stemming from the adoption of IFRS 17, and relied on the resilience of its core Government Deduction at Source (DAS) loan portfolio amidst broader macroeconomic pressures.
2.43 mb
Released 28 August 2023
Unaudited Condensed Consolidated Interim Results for the six months ended 30 June 2023
The unaudited condensed consolidated interim results for Letshego Holdings (Namibia) Limited for the six months ended 30 June 2023 showed a modest 2% increase in Profit after tax (N$171m) and 14% growth in total revenue driven by increased interest and insurance income, even though net interest income declined by 7% due to margin compression caused by rising floating rate interest expenses.
1.41 mb
Released 29 August 2022
Unaudited Condensed Consolidated Interim Results for the six months ended 30 June 2022
The unaudited condensed consolidated interim results for Letshego Holdings (Namibia) Limited for the six months ended 30 June 2022 reported resilient performance characterized by 5% growth in Profit after tax (N$168m), a 10% increase in total revenue, and 16% growth in advances to customers, driven by organizational design efficiencies and digital adoption, despite a 21% rise in costs partly due to insuring the micro-lending book.
130 kb
Released 12 April 2022
Annual Financial Statements for the year ended 31 December 2021
The Annual Financial Statements for Letshego Holdings (Namibia) Limited for the year ended 31 December 2021 reported a decrease in Profit for the year (N$303.2 million) compared to the restated N$320.9 million in 2020, despite substantial growth in Net Advances to customers (N$4.28 billion) and a credit impairment reversal of N$16.5 million, indicating pressure from higher operating expenses (N$284.5 million versus N$164.3 million in 2020) and reduced Net Interest Income (N$467.3 million versus N$527.0 million in 2020).
1.34 mb
Released 3 March 2022
Reviewed Condensed Consolidated Financial Statements for the year ended 31 December 2021
The Reviewed Condensed Consolidated Financial Statements for Letshego Holdings (Namibia) Limited for the year ended 31 December 2021 showed a slight decrease in Profit for the year (N$303.2 million) compared to N$320.9 million in 2020, even as total assets grew to N$5.52 billion and net advances to customers increased significantly to N$4.28 billion.
435 kb
Released 24 August 2021
Unaudited Condensed Consolidated Interim Results for the six months ended 30 June 2021
The unaudited condensed consolidated interim results for Letshego Holdings (Namibia) Limited for the six months ended 30 June 2021 reported an improved performance over the prior year, marked by a 26% increase in Profit for the year (NAD159.6m) and a 26% increase in total revenue, driven mainly by a 23% growth in Net Advances to customers, even though costs increased significantly (44%) due to the insuring of the micro-lending book for credit default.
6.70 mb
Released 01 September 2020
Unaudited Condensed Consolidated Interim Results for the six months ended 30 June 2020
The unaudited consolidated interim results for Letshego Holdings (Namibia) Limited for the six months ended 30 June 2020 reported a challenging period marked by a 37% decrease in Profit after tax (NAD148 million) and a 23% drop in total revenue, primarily driven by yield compression and higher loan loss provisioning, even as the Group achieved an 18% growth in advances to customers.
1.51 mb
Released 01 September 2020
Unaudited Condensed Consolidated Interim Results for the six months ended 30 June 2020
The unaudited condensed consolidated interim results for Letshego Holdings (Namibia) Limited for the six months ended 30 June 2020 reported a challenging period defined by a 37% decrease in Profit after Tax (NAD148m) and a 23% drop in total revenue, primarily driven by yield compression and reduced cell captive revenues, even as the Group realized 18% growth in advances to customers and focused on accelerating its digitisation and cost discipline agenda.
1.90 mb
Released 26 May 2020
Annual Financial Statements for the year ended 31 December 2019
The Annual Financial Statements for Letshego Holdings (Namibia) Limited for the year ended 31 December 2019 reported a Profit for the year of N$451.1 million, marking an increase from the restated N$468.9 million in 2018, driven primarily by Net Interest Income of N$595.4 million and net interest income after impairment of N$579.3 million, alongside significant advances to customers totaling N$3.94 billion at year-end.
5.22 mb
Released 02 September 2019
Unaudited Condensed Consolidated Interim Results for the six months ended 30 June 2019
The unaudited condensed consolidated interim results for Letshego Holdings (Namibia) Limited for the six months ended 30 June 2019 showed a modest 2% increase in Profit after tax (NAD235m) and a 7% growth in advances to customers, while the Group focused on strengthening its internal control environment, investing in human capital, and adopting a "phygital" business model to drive its inclusive finance agenda amidst a challenging and competitive environment.
266 kb