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BIHL keeps faith in Letshego despite profit knock

Holding on: Lesetedi says BIHL believes in Letshego’s potential PIC: PHATSIMO KAPENG.
Holding on: Lesetedi says BIHL believes in Letshego’s potential PIC: PHATSIMO KAPENG.

BIHL has no plans to exit its 28% stake in Letshego Holdings, despite the microlender recently suffering an 18% pretax profit drop amidst broader doubts around the sustainability of expansions to West and East Africa.

Botswana Insurance Holdings Limited (BIHL), the country’s largest diversified financial services entity, previously incurred running impairments from Letshego over two reporting periods between 2018 and 2019 amounting to P246 million.

In the half year to June 30, BIHL's share of profits from associates dropped to P117.5 million, more than 5.2 percent lower than the previous corresponding period.

Editor's Comment
Child protection needs more than prevailing laws

The rise in defilement and missing persons cases, particularly over the recent festive period, points not merely to a failure of policing, but to a profound and widespread societal crisis. Whilst the Police chief’s plea is rightly directed at parents, the root of this emergency runs deeper, demanding a collective response from every corner of our community. Marathe’s observations paint a picture of neglect with children left alone for...

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