Finance, Madison Financial Services PlcAugust 1, 2021

Madison Finance records weaker financial performance due to weakness in business model
When Madison Finance Limited reported its end of financial year results on Friday 23 July 2021, investors had to brace for weaker financial performance from the financial services coming. “In accordance with the Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of Madison Finance Limited (“the Company”) hereby advises the Shareholders of the […]

Finance, Madison Financial Services PlcDecember 28, 2020

Lawrence Sikutwa’s Madison Financial Services signals a ‘financial reboot’
In a year that was overshadowed by Covid-19, one screaming headline in May 2020 caught the eyes of many financial analysts in Zambia. Was Lawrence Sikutwa about to dispose of his beloved LSA Group? The financial maestro was quick to dispel the false expose by Lusaka Times and put it on record that LSA was […]

Finance, Madison Financial Services PlcDecember 28, 2020

Madison Financial Services enters a Share Purchase Agreement
Further to the cautionary announcement by Madison Financial Services PLC (“MFS”) published on SENS dated 8th December 2020, shareholders and the market are hereby advised that Lawrence Sikutwa & Associates Limited (“LSA”) and ZFI Holdings Limited (“ZFI”), the two largest shareholders in MFS, have separately executed Share Purchase Agreements (the SPAs) with XYLEM Trading (Pty) [&he

Finance, Madison Financial Services PlcOctober 3, 2020

Madison Financial Services at half-year 2020
Extant financial services company, Madison Financial Services has reported a financial performance at half-year that shows “brand is everything” in financial services. “Despite a difficult economic environment, the Group was able to hold its market position as evidenced by the revenue which remained flat in comparison to 2019” read a statement from its recently published […]

Finance, Madison Financial Services PlcJuly 23, 2020

Madison Financial Services continues to ponder on asset disposal
Madison Financial Services has advised shareholders that it is still assessing which assets to dispose of in order to raise capital. The announcement comes a follow up to an earlier statement that came after an emergency general meeting that resolved that the company would consider disposing of assets in order to bridge the financing gap. […]

Finance, Madison Financial Services PlcMay 2, 2020

Madison Finance Company earnings weaken in 2019 FY
Madison Finance Company earnings have weakened to K6.557 million for the year ending 31 December 2019 compared to K 21.537 million recorded as at 31 December 2018, according to audited financials published by the group. The group which comprises of an insurance (Life and General) company, an asset management company, and a general insurance outfit […]

Finance, Madison Financial Services PlcOctober 6, 2019

Madison Financial Services signals 500% lower earnings per share at Half Year 2019
Lusaka Securities and Exchange-listed Madison Financial Services (MFS) has advised shareholders that the company’s headline earnings per share at half-year 2019 will be approximately 500% lower compared to the previous year.   “In accordance with the Lusaka Securities Exchange Listings Requirements, the Board of Directors of Madison Financial Services PLC hereby advises the Shareholders o

Finance, Madison Financial Services PlcApril 25, 2019

Madison Financial Services Plc 2018 Performance
Madison Financial Services Plc operates a close-knit and WELL DIVERSIFIED FINANCIAL SERVICES GROUP of companies, offering various products and services in the following businesses Madison General Insurance, Madison life Insurance, Madison Finance, Madison Asset Management, Madison Capital and Hillview Estate Limited. Madison was the first privately owned insurance company following the liberalizat

Finance, Madison Financial Services PlcSeptember 19, 2018

Madison at Half Year 2018
In a recently published SENS Announcement on LuSE, Madison Financial Services Plc recorded results that showed a decrease in net performance over the half year period of 2018. With IFRS 9 effects being felt on the financial statements (IFRS 9 is an International Financial Reporting Standard (IFRS) promulgated by the International Accounting Standards Board (IASB). It […]

Finance, Madison Financial Services PlcJuly 17, 2018

Madison Financial Services in 2017: Case of the PHD Syndrome
In a year of mixed fortunes, Madison Financial Services will remember 2017 for the highs and lows that where omnipresent in their financials. According to SENS Announcement published 14th June 2018, after a tremendous recovery was recorded for the total insurance business which had a triple jump in profits at 275%, the company made positive […]