Namibian businessman Christiaan Ranga Haikali’s stake in FirstRand Namibia now worth $6 million

Namibian businessman and leading executive Christiaan Ranga Haikali’s stake in FirstRand Bank Limited, one of Namibia’s leading financial services groups, is valued at NAD10.77 million ($6.01 million).

FNB Namibia Limited is one of the country’s leading financial services companies, offering a comprehensive range of banking services to consumers through its banking activities.

Haikali, an independent non-executive director in the bank, owns a beneficial 1.18-percent ownership in the lender, which translates into 3,086,749 ordinary shares.

As of press time on Feb. 26, shares in the bank were valued at NAD29.49 ($1.947), a three basis point decrease from the firm’s opening price on the Namibian Stock Exchange yesterday, Feb. 25.

At the current share price, Haikali’s position in the bank is worth NAD10.77 million ($6.01 million), making him one of the wealthiest investors on the local stock exchange.

The current value of his shareholding has been boosted by a double-digit gain in FirstRand Namibia shares in 2021, as investors anticipated an increase in the bank’s earnings and dividend payments.

The value of Haikali’s shareholding has climbed by $1.3 million in the past year, due to a 27.8-percent gain in FirstRand Namibia shares.

The bank recorded a 25-percent rise in headline earnings from NAD867 million ($57.27 million) in 2020 to NAD1.02 billion ($67.38 million) at the conclusion of its 2021 fiscal year, which ended on June 30, driven by a 6.2-percent increase in revenue during the period.

Despite a single-digit fall in total assets from NAD46 billion ($3.04 billion) to NAD43 billion ($2.84 billion), assets under managed climbed modestly from NAD14 billion ($924.77 million) to NAD15 billion ($990.83 million).

As a consequence of the bank’s excellent rise in headline earnings, it announced a dividend of NAD1.18 ($0.0779) per share, which was paid to shareholders on Oct. 15. Haikali received a total of NAD3.64 million ($240,523) in dividends from the bank.