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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
Tana project a welcome development

Whilst the project received mixed reactions from members of the public, the project is indeed a welcome development, which needs to be implemented as soon as possible. Many shared their opinion, with those against the project decrying that if implemented, it will kill the already struggling public transport industry.Many countries around the world have state-run public transport, and those who have travelled to such countries will give testimony...

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