the monitor

BIHL resists economic headwinds with 39% profit jump

Showing resilience: BIHL held its interim results announcement last Wednesday PIC: BIHL FACEBOOK
Showing resilience: BIHL held its interim results announcement last Wednesday PIC: BIHL FACEBOOK

Financial services giant, Botswana Insurance Holdings Limited (BIHL) withstood an uptick in policy lapses caused by tougher economic conditions for clients, to declare a 65 thebe interim dividend for the half year ended June 30.

Inflation in the half year averaged 10.9%, one of the highest levels in recent years, while additional pressure on consumers’ incomes came from two interest rate hikes the Bank of Botswana effected during the period.

On Wednesday, BIHL group chief executive, Catherine Lesetedi told a results briefing that the difficulties encountered by customers in the first half of the year had manifested in policy lapses and an increase in the early maturity termination of investment portfolios by clients.

Editor's Comment
Who watches the watchdog?

For a fact, in a democratic society such as Botswana, the media plays a crucial role of being watchdog, holding the powerful to account and exposing all possible wrongdoing for the benefit of the public.There has been a nagging question about who watches the watchdog after all? Perhaps, the investigations into alleged wrongful acts implicating those supposed to be playing the watchdog role will shed more light into what has happened such that the...

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