BIHL keeps faith in Letshego, despite P140m impairment

Lesetedi, Mukushi and Dambe-Groth
Lesetedi, Mukushi and Dambe-Groth

Botswana Insurance Holdings Limited (BIHL) has no immediate plans to reduce its Letshego Holdings stake, despite incurring a P140 million impairment as a result of reviewing the value of its investment in the micro-lender, BusinessWeek can reveal.

BIHL is the country’s largest diversified financial group and also the Botswana Stock Exchange’s (BSE) third largest listed domestic counter. Letshego, a pan African micro-lender active in 11 countries, is the largest non-bank financier in Botswana and the BSE’s fourth largest domestic stock by market capitalisation. 

BIHL currently has a 26.2% stake in Letshego, nearly double what it held in 2009 when a decision was made to ramp up its holdings in the micro-lender and cash in on Letshego’s pan-African expansion, which was gathering momentum at the time.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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