Standard Bank Holdings Namibia reported a profit after tax of N$770 million for the period ended 31 December 2023, a 23.3% increase from the previous year’s N$624 million. The growth is primarily attributed to several factors, including a 24.6% rise in net interest income driven by continued repo rate increases, a 32.2% increase in trading revenue,...
In its unaudited results for the 6-month period ended 31 December 2023, Oryx Properties has increased its asset base to N$3.78 billion following the acquisition of Dunes Mall in Walvis Bay. The property group also posted a staggering 98% increase in profits, reaching a whisker shy of N$67 million. “Despite the challenging micro- and macroeconomic...
Nedbank Namibia reported a 54% surge in profit after tax to N$460 million for the year ended December 2023 driven by client growth, expense management, and digital initiatives. “After fair-value adjustments, our headline earnings have increased by 29% to N$383 million from N$298 million. This growth is driven by endowment benefits, client growth, and effective...
Martin Endjala Capricorn Group has recorded solid results with profit after tax for the six months ended 31 December 2023, increasing by 18.5 percent to N$827.6 million, compared to a profit after tax of N$698.2m that was reported in the comparative period in the prior year. This represents an increase of 19.4 percent in earnings...
FirstRand Namibia Limited has advised shareholders that the group’s profit after tax for the period ended 31 December 2023 is expected to be 0% to 5% lower than the comparative period partly due to higher impairments, with pre-provision profit improving between 3% to 8% with strong underlying performance from operations. The group’s reviewed financial results...
Business Reporter THE Namibia Airports Company (NAC), during its Annual General Meeting (AGM) held this past week, announced that the company has made a positive turnaround, recording a profit of N$19 million in 2023, from a loss-making position of N$93,697,664 recorded in 2022. The NAC has navigated through tough economic headwinds and is gradually returning...
…turns-around after making a loss of N$93 million in the previous year The Namibia Airports Company (NAC) has announced that it recorded a profit of N$19 million in the 2022/2023 financial year, this after having endured losses of in excess of N$93 million in the 2022 financial year. The company announced this at its Annual...
Trigon Metals, the Canadian company which resuscitated commercial copper production at Kombat Mine in central Namibia on 10 October last year, is upbeat about the profitability of the venture. Giving an overview of the operations at the biggest copper producer in Namibia, Jed Richardson, the president and chief executive of Trigon Metals, says an increase...
The festive season is one of the most anticipated periods of the year, which also comes with an appetite for shopping. Small business owners spoke to nbc’s Luqman Cloete about consumer spending during the festive season. Maria Ndifikepo, a small business owner, explained that business was booming at the beginning of the festive season but...
