Letshego profit hits N$500m

Letshego Holdings Namibia (LHN) has reported a profit of N$505.8 million for the period ended December 2025, marking a 20.8% increase in profit on the corresponding period (December 2024), a notice on the Namibia Securities Exchange website shows, and a 20% increase in headline earnings per share (101 cents, 2025; 84 cents, 2024). 

Operating profit for the period stood at N$571 million, up 24% on the corresponding period (N$464 million). 

Interest revenue climbed to N$1.1 billion, registering a 28% jump on the corresponding period (N$561.4 million) with net interest after impairment recorded at N$718 million, with total impairments charges accounting for just N$5 million for the period under review. 

Deduction code comes into play 

The planned suspension of the Deduction Code, which forms a strong basis for LHN’s operating model, further did not dampen the lender’s performance.

“LHN 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,” it said in a notice to shareholders.

“As regulatory expectations and market dynamics continue to evolve, Letshego remains committed to deepening customer trust, broadening our deposit base, enhancing governance practices and sustaining the organisational capacity required to support long-term, behaviour-led growth through 2026 and beyond,” it added. 

Shift in business model

LHN said its business model would also display a shift toward customer centricity, as it adopts a deposit-led operating model. 

“Letshego’s strategic shift toward a community embedded, deposit-led operating model, underpinned by payments functionality, daily customer engagement, and financial inclusion priorities, is progressively reducing reliance on single segment lending and strengthening the organisation’s resilience.” 

LHN’s reported capital adequacy ratio showed a downward revision, declining 2 percentage points or 6.67%. The lender, however, remains well-capitalised, three times above the regulatory threshold. 

Shareholders will receive a final combined dividend of N$270.7 million (54.14 cents per ordinary share), scheduled to be paid on 24 April 2026.