Mmegi

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
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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