BIHL, Letshego wrap up P57million deal :: Mmegi Online

The Non-Banking Financial Institutions Regulatory Authority (NBFIRA) has approved the change of ownership of a Letshego Holdings subsidiary to Botswana Insurance Holdings Limited, removing the final barrier towards the finalisation of the P57 million transaction.

This week, sources close to the deal said NBFIRA had provided BIHL with confirmation of the approval of change of ownership of Letshego Guard Insurance Company, which had also been communicated to Letshego Holdings. The multi-million pula transaction involves the sale of Letshego Guard and Letshego Guard Insurance Company by Letshego Holdings to BIHL.

The latest developments mean BIHL is now required to pay the P57 million to Letshego Holdings, a move that was due to be finalised this week. The sale price for both subsidiaries was pegged at P43 million, with an additional P14 million required of BIHL for settlement of loan accounts.

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BIHL, Letshego wrap up P57million deal

The Non-Banking Financial Institutions Regulatory Authority (NBFIRA) has approved the change of ownership of a Letshego Holdings subsidiary to Botswana Insurance Holdings Limited, removing the final barrier towards the finalisation of the P57 million transaction.

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