2024 Full Year Performance
2024 Full Year Performance
The Group’s Operating income grew 26% year on year to BWP2.87 billion on the back of strong top-line growth. Interest income for the year of BWP3.9 billion reflected double-digit growth, with Interest from Advances to customers up 15 % year on year, driven mainly by DAS and Mobile lending.
Interest on Deposits with banks increased 27% year on year. Interest expense of BWP1.59 billion reduced 4% year on year.
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2024 Full Year Performance
Performance Highlights
The Group’s Operating income grew 26% year on year to BWP2.87 billion on the back of strong top-line growth. Interest income for the year of BWP3.9 billion reflected double-digit growth, with Interest from Advances to customers up 15 % year on year, driven mainly by DAS and Mobile lending.
Interest on Deposits with banks increased 27% year on year. Interest expense of BWP1.59 billion reduced 4% year on year.
Brighton Banda, Interim Group Chief Executive Officer and Group Executive Director
"Strong double digit growth in both PBT and operating income affirms that our business foundations remain sound. We are also encouraged by how well our short term loans have grown in Ghana and Tanzania. Our net loss position, although improved, shows we still have more work to do on balancing tax efficiencies."
Interest Income (Pula)
FY 2024
3.93 billion
2023: 3.42 billion
15%
Operating Income (Pula)
FY 2024
2.87 billion
2023: 2.28 billion
26%
Profit Before Tax (Pula)
FY 2024
232 million
2023: 121 million
91%
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Board of Directors
Appointments to the Board
The Board has a formal and transparent policy regarding the appointment of directors to the Board. While the appointments are a matter for the Board, the authority to oversee the nomination and to carry out the interview process have been delegated to the Group Governance and Nominations, Committee.
Apart from a candidate’s experience, knowledge, skills, availability and likely fit, the committee also considers a candidate’s integrity, as well as other directorships and commitments to ensure that the candidate will have sufficient time to discharge his/her role properly.
The appointment of non-executive directors is formalised through a letter of appointment and the Board makes full disclosure regarding individual directors to enable shareholders to make their own assessment of directors. All INED board appointments are put to a shareholder vote at the next Annual General Meeting.
New appointees are appropriately familiarised with the Group’s business through an induction programme. The composition of the Board is reviewed on a regular basis to ensure ongoing compliance with the requirements of King IV.
