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
Are police trigger-happy?

Unfortunately, that day turned sour for those who were shopping at Sefalana Cash and Carry in Gaborone West Industrial.The exchange of fire that ensued between members of the Botswana Police Service (BPS) and robbers who had allegedly robbed a G4S cash-in-transit vehicle left two civilians dead, three robbers struck down, and an undisclosed number of citizens wounded.One deceased civilian is reportedly an employee of the Citizen Entrepreneurial...

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