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Letshego investors approve P500m loan request to BPOPF

Pan-African footprint: Letshego is one of the homegrown corporate success stories PIC PHATSIMO KAPENG
Pan-African footprint: Letshego is one of the homegrown corporate success stories PIC PHATSIMO KAPENG

Letshego Africa’s shareholders have approved the group’s intention to borrow P500 million loan from the Botswana Public Officers Pension Fund, a deal needed to boost the microlender’s liquidity.

A notice to the Botswana Stock Exchange this afternoon indicates that more than 99% of the shareholders present at an Extraordinary General Meeting convened for the transaction yesterday, voted in favour of the deal.

Under the terms of the transaction, the BPOPF would advance a Letshego P500 million loan with a tenure of 18 months. The loan would carry “market related cost of funds” in terms of interest and associated costs.

Editor's Comment
The Boko-led administration has to tread carefully

‘When you make peace withyourself, you make peace with the world’- Maha GhosanandaThis may come at a huge cost if not handled properly. What started off on Labour Day in Letlhakane this year, where Boko was in attendance when the militant lawyer-cum-trade unionist, Robert Rabasimane rebutted the President’s address in defence of the trade union has seemingly spiralled out of control. The issue is now creating a cat-and-mouse type of a...

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