Letshego Holdings Namibia Limited reported a 20.8% increase in profit after tax to N$505.8 million for the year ended 31 December 2025, up from N$418.8 million recorded in 2024, supported by stronger lending activity and higher net interest income.
Letshego said operating profit rose by 24.3% during the period, while total revenue increased by 14%, reflecting growth in advances to customers and expanding income streams.
Chief Executive Officer Ester Kali said the company delivered improved financial results despite operating in a difficult macroeconomic and regulatory environment.
“Letshego Holdings Namibia enters 2026 on a strong performance foundation, having delivered growth across its key profitability metrics in 2025 despite operating in a challenging macroeconomic and regulatory environment,” Kali said.
Net interest income increased by 32% to N$724 million from N$549 million in the previous year, driven largely by the expansion of the company’s loan book and the repricing of lower interest loans.
Credit quality remained broadly stable despite stronger lending growth. The group’s non-performing loans ratio stood at 5.33%, compared with 5.10% recorded in 2024.
Kali said the results reflect stable earnings quality, with total comprehensive income and headline earnings expanding at similar levels.
The company recorded an impairment charge of N$5 million during the year, translating to a loan loss ratio of 0.09% against average gross advances, indicating relatively low credit losses.
Profitability ratios also improved, with return on average equity rising to 18% from 15%, while return on average assets increased to 7% from 6%.
Basic and headline earnings per share rose to 101 cents, up from 84 cents in the previous year.
Kali said the business continued adapting to changing market conditions, noting that while shifting market dynamics temporarily affected revenue flows, disciplined management and operational continuity supported overall performance.
Letshego also strengthened its funding base during the year through increased deposit mobilisation and capital market funding.
Customer deposits grew by 24.5% to N$1.6 billion from N$1.3 billion in 2024, while the group expanded its local funding base to N$2.6 billion, reducing reliance on intercompany and equity funding.
During the period, the company raised N$461 million through bond issuances on the Namibian Stock Exchange.
Kali said the company’s strategy of building a community-embedded, deposit-led operating model is gradually reducing reliance on single-segment lending while improving overall financial resilience.
The board declared a final dividend of 54.14 cents per ordinary share. The last day to trade cum dividend is set for 1 April 2026, with the shares trading ex-dividend from 2 April 2026. The dividend will be paid on 24 April 2026.