mmegi

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
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

Have a Story? Send Us a tip
arrow up