Staff Reporter
WINDHOEK, Sept. 19 — Momentum Metropolitan, a prominent financial services group in Africa, has announced a historic high in normalized headline earnings (NHE), reaching R5.1 billion for the 12-month period ending on June 30, 2023. Operating profit witnessed an impressive 31% surge, rising from R3.4 billion the previous year to R4.4 billion. These exceptional results were driven by an improved post-Covid mortality experience and a positive investment variance of R1.1 billion.
The Group’s earnings per share metrics also demonstrated substantial growth: normalized headline earnings per share surged by 19% to 342.3 cents, headline earnings per share increased by 5% to 310.7 cents, and earnings per share grew by 20% to 313.3 cents. The company declared a total dividend of 120 cents per ordinary share, marking a 20% increase compared to the prior year.
Hillie Meyer, the outgoing Group CEO, stated, “In a challenging operating environment, our resilient business model has enabled us to navigate the multiple headwinds faced by South Africa in the past year. Our dividend declaration reflects the Group’s robustness and our confidence in the financial strength of the business.”
Momentum Metropolitan Namibia, a subsidiary of the Momentum Metropolitan Group, also had a successful year, with several team members receiving recognition at the prestigious Momentum Metropolitan Africa Recognition Awards 2023. This ceremony acknowledged outstanding contributions across Africa, further cementing Momentum Metropolitan’s commitment to excellence.
Sakaria Nghikembua, CEO of Momentum Metropolitan Namibia, expressed pride in the achievements of their Namibian colleagues, saying, “These accolades testify to the depth of talent within our organization.”
Notable Namibian winners at the Africa Awards include:
– Phahama Awards Winner: Christopher Storm
– Top 8 Financial Advisers: Betty Ndjiva, Momentum Metropolitan Namibia
– Overall, Winner, Top Broker Consultant: Luandro Steyn, Momentum
– Overall, Winner, Top Head of Distribution: Frederik Van Zyl, Momentum
– Overall, Winner, Top Asset Manager CEO/Head: Evangelina Nailenge, Momentum Investments
– Overall, Winner, Most Improved Country: Sakaria Nghikembua, CEO, Momentum Metropolitan Namibia
Denille Roostee, Momentum Metropolitan’s Group Head of Marketing, expressed great satisfaction with Sakaria Nghikembua being honoured as the ‘Most Improved Country’ at the Momentum Metropolitan Africa Recognition Awards 2023. She credited Nghikembua’s “exceptional leadership and vision,” which played a pivotal role in the remarkable achievements of the organization this year, stating that his guidance enabled them to set new benchmarks not only in Namibia but also within the Momentum Metropolitan group across Africa.
The financial results of the Momentum Metropolitan Group, along with the recognition received in Namibia, underscore the effectiveness of the Group’s long-term strategies, the dedication of its workforce, and the resilience of its business model. As the Group looks ahead, it remains steadfast in its commitment to delivering outstanding service to its clients, fostering enduring relationships with financial advisers and brokers, and creating exceptional value for its shareholders.
