Chamwe Kaira
Old Mutual Limited reported adjusted headline earnings of N$4.2 billion for the six months ended 30 June, reflecting growth of 29%.
The company said the increase was supported by strong underwriting performance in Old Mutual Insure and positive equity market performance in South Africa and Malawi.
Return on net asset value rose to 15.5%. Equity value decreased to N$18.40 per share due to business impacts and methodology changes. ThThe group’s new business margin value dropped to 1.3% for the same reasons.
The board declared an interim dividend of 37 cents per share, up 9% from the previous period. Strong cash generation enabled approval of a share buyback of up to N$3 billion, subject to market conditions. The buyback will proceed while the share price remains at a level considered accretive to shareholder value.
Old Mutual said its balance sheet remained strong with a shareholder solvency ratio of 172%, within the target range of 155% to 185%.
The group confirmed plans to strengthen its market leadership in Southern Africa, where it has a long-standing presence in countries bordering South Africa.
“To deepen our market leadership in the region, we are focusing on scaling select markets, expanding our product offerings and capturing cross-border synergies. This approach builds on Southern Africa’s significant contribution to the results from operations and the return on net asset value generated by Old Mutual Africa Regions,” the company said.
OM Bank reported N$1.5 billion in deposits and N$15.5 billion in lending operations. Its banking network includes 346 branches in South Africa.
“This allows us to expand current relationships with our mass-market customers while attracting new customers through a compelling banking proposition,” it said.
Looking ahead, Old Mutual said geopolitical headwinds and resilient market sentiment shape a cautious but constructive outlook for the remainder of 2025.
Caption
Old Mutual has a strong presence in Southern Africa, including Namibia.
- Photo: Old Mutual
