BIHL holds steady in Letshego despite P106m hit
Friday, September 13, 2019
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.
It has only been a month since the newly elected government, the Umbrella for Democratic Change (UDC), took power, and there are already a lot of changes. Across different ministries, ministers are hard at work. Following heavy rainfall and storms that hit Francistown recently, the Minister of State Presidency, Moeti Mohwasa, made a commitment that government will assist those affected by the heavy rains. Mohwasa, when addressing the media in...