BIHL braces for P110m hit as associate firms struggle
Friday, August 23, 2019
BIHL’s biggest stakes in other firms include 50% in Botswana Insurance Company, 36% in the Funeral Services Group (FSG), 25.1% in Malawi’s Nico Holdings Limited and about 26.2% in Letshego Holdings Limited.
Group executives previously told BusinessWeek that every six months, BIHL evaluates all its investments on the basis of a Discounted Cash Flow, which essentially attempts to measure the future returns on the different equity stakes. Recently, the group told shareholders that its interim results, due to be released on September 2, would carry a drop in pretax profits of between P78 million and P110 million when compared to the corresponding prior period. For the half-year ended June 30, 2018, BIHL posted pretax profits of P314 million.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...