mmegi

BIHL wants turnaround in Letshego’s weak spots

Resolute: Lesetedi says Letshego must show recovery in its weaker markets PIC: KENNEDY RAMOKONE
Resolute: Lesetedi says Letshego must show recovery in its weaker markets PIC: KENNEDY RAMOKONE

BIHL, which holds nearly 30% shares in Letshego Holdings, wants to see a turnaround in the microlenders’ East and West African markets and is prepared to push for an exit from these areas should weak performances continue.

Botswana Insurance Holdings Limited, the country’s largest diversified financial services group, has been a loyal shareholder in Letshego, riding through recent periods of reduced profit contributions and growth.

For the year ended December 2022, Letshego reported a 30% drop in pretax profits to P801 million, with the weaker performance partly due to below-par performances in Ghana, Tanzania, Kenya, Nigeria, and Rwanda.

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