Letshego nosedives on stock market

Microlender Letshego this week continued with its losing streak on the Botswana Stock Exchange (BSE) as selling pressure mounts on the counter against the background of investors' apprehension over the company's future cash flows.

The investors' panic follows reports that government would cease facilitating deduction of microlenders' loan repayments from source starting December 1 this year. Botswana operations contribute over 60 percent to the group's profitability.