Momentum Metropolitan Namibia has announced that multiple team members have been recognised at the Momentum Metropolitan Africa Recognition Awards 2023.
The ceremony acknowledged exceptional contributions across Africa, further solidifying Momentum Metropolitan’s commitment to excellence.
“We take immense pride in our Namibian colleagues for not just meeting but exceeding expectations in their various roles,” said Sakaria Nghikembua, CEO of Momentum Metropolitan Namibia. “These accolades testify to the depth of talent within our organisation.”
Namibian winners recognised at the Africa Awards
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
“We couldn’t be more pleased that Sakaria Nghikembua has been honoured as the ‘Most Improved Country’ at the Momentum Metropolitan Africa Recognition Awards 2023,” said Denille Roostee, Momentum Metropolitan’s Group Head of Marketing.
“This accolade is a testament to Sakaria’s exceptional leadership and vision, which have been instrumental in the unprecedented achievements we’ve experienced this year. His direction has enabled us to set new benchmarks not just in Namibia, but within the Momentum Metropolitan group across Africa.”
“What truly stands out is Sakaria’s humility,” Roostee continued. “During the ceremony, he remarked, ‘I am here to represent the people; this is the people’s win, not mine.’ This humility is one of his most effective leadership qualities and speaks volumes about the kind of leader he is.”
“In conclusion, the remarkable financial performance and noteworthy accolades received by our Namibian colleagues at the Momentum Metropolitan Africa Recognition Awards 2023 underscore the strength and resilience of Momentum Metropolitan as a leading institution. These achievements have set new standards of excellence across our operations, and we are profoundly proud of each individual’s contribution towards these milestones.”
Both the Momentum Metropolitan Group financial results and the Namibian awards speak to the effectiveness of our long-term strategies, the commitment of our workforce, and the robustness of our business model. As we look to the future, we remain focused on delivering service to our clients, building enduring relationships with financial advisers and brokers, and generating exceptional value for our shareholders.
Strong Performance
Momentum Metropolitan has reported a historic peak in normalised headline earnings (NHE) of R5.1 billion for the 12 months ended 30 June 2023. Operating profit surged by 31% to R4.4 billion, up from R3.4 billion the previous year. These stellar results were bolstered by improved post-Covid mortality experience and a positive investment variance of R1.1 billion.
Earnings per share metrics also showed robust growth: normalised headline earnings per share jumped by 19% to 342.3 cents, headline earnings per share rose by 5% to 310.7 cents, and earnings per share grew by 20% to 313.3 cents. A total dividend of 120 cents per ordinary share, a 20% increase on the prior year, was declared.
“In a challenging operating environment, our resilient business model has allowed us to navigate multiple headwinds faced by South Africa in the past year,” said outgoing Group CEO, Hillie Meyer. “Our dividend declaration reflects the Group’s robustness and our confidence in the financial strength of the business.”
Future Outlook
Incoming Group CEO, Jeanette Marais, acknowledged that while the business had reported strong results, there were challenges ahead due to economic conditions. She stated, “We expect our earnings to remain robust in F2024, targeting an NHE between R4.6 billion and R5.0 billion as part of our ‘Reinvent and Grow’ objectives.”