South Africa’s Telkom completes first phase of retrenchment process

South Africa’s Telkom completes first phase of retrenchment process

South Africa's Telkom has completed the first phase of its retrenchment process, affecting one-thousand-800 jobs. The telecoms giant reported a 1.9-percent revenue growth to 21-billion-rand, driven by strong revenue performance. CEO Serame Taukobong says the focus is on cutting operational costs and improving revenue mix to build a resilient company:

November 19, 2024 9

Business / Economics

Capricorn Group and Bank Windhoek Shine in PSG Wealth Namibia Banking Review

Capricorn Group and Bank Windhoek were awarded in the 2024 PSG Wealth Namibia Banking Review, based on key metrics like profitability and credit risk management. This recognition places Capricorn Group alongside other top institutions such as FirstRand Namibia, Standard Bank Namibia, and Nedbank Namibia. Capricorn Group CEO, David Nuyoma.

November 15, 2024 29

Business / Economics

Letshego reports 14% revenue growth in 2024

For the first half of 2024, Letshego Holding Namibia recorded a strong growth of 14% year-on-year increase in total revenue, driven by a 21% rise in interest income. Net interest income grew by 15% to N$251 million, strengthened by a 3% increase in net advances to customers and strategic repricing of low-interest loans. CEO of Letshego Holdings Namibia, Dr Ester Kali says the bank has maintained a stable cost-to-income ratio […]

August 29, 2024 32

Business / Economics

Air France says Olympic Games has cut summer traffic to Paris

Air France-KLM warned Monday that the Olympic Games would lead to a drop in revenues of up to 180 million euros ($193 million), due to a decline in travel to Paris over the summer. Some 15 million visitors are predicted to attend the Games, including two million from abroad, according to the Centre for Law and Economy of Sport (CDES), which has been monitoring the Paris […]

July 1, 2024 23

Local

TRUSTCO shares surge 49% following positive trading update

Trustco continues to demonstrate its ability to generate above-average investment returns. During the interim review period, Trustco's Net Asset Value (NAV) increased by 9.5% from NAD 1.15 billion (USD 62 million) to NAD 1.26 billion (USD 68 million) during the last six months. The NAV per share similarly grew to 128.2 cents, from 117.1 cents. The Group's profit for the 6 months ended 29 February 2024 […]

May 31, 2024 9

Business / Economics

Trustco Group reports resilient 2023 financial results

Trustco Group Holdings Limited has released its 2023 financial results. The group maintained strong financial standing, ending the year with N$ 1.15 billion in shareholders' equity. However, the Group's Net Asset Value declined from N$ 1,834 million to N$ 1,153 million. Here’s Deputy CEO Quinton Van Rooyen Junior.

December 19, 2023 57