BIHL holds steady in Letshego despite P106m hit

Mukushi says Letshego is a long term investiment
Mukushi says Letshego is a long term investiment

Botswana Insurance Holdings Limited (BIHL) suffered a P106 million impairment from its associate company, Letshego Holdings for the six months ended June 30, but has no immediate plans of reducing its investment in the microlender.

The loss continues a pattern seen last year when, for the year ended March 31, 2018, BIHL incurred a P140 million impairment from Letshego.  BIHL holds a 26.2% stake, the largest by any single shareholder.

In its recently unveiled results for the half-year to June 2019 BIHL, which is the country’s largest diversified financial group, saw its pretax profits fall 29% to P223.5 million largely as a result of lower profits from associate companies.

Editor's Comment
Bravo police for prompt action

It is also hurting that whilst we all know that the Botswana Police Service (BPS) is charged functionally with the duties to investigate all forms of crime, some locals have resorted to taking the law into their own hands. It is very wrong to do that. There is also a possibility that one may wrongfully take the life of a person in the process, unless it is a justifiable case of self-defence. Recently, in the city of Francistown, some locals found...

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