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
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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