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
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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