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BIHL wants turnaround in Letshego’s weak spots

Friday, March 10, 2023 | 440 Views |

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.

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