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Letshego mulls share buyback to shore up value

Brand power: Letshego is one of the country’s most recognisable brands PIC: PHATSIMO KAPENG
Brand power: Letshego is one of the country’s most recognisable brands PIC: PHATSIMO KAPENG

Letshego Holdings’ investors have given the group authority to purchase up to 10% of shares back from them, in a move expected to strengthen the value of a stock that has been under pressure for several years.

For a long time the star performer on the Botswana Stock Exchange’s Domestic Companies Index, Letshego’s share price dropped 10% last year and on July 4, sank to 98 thebe, its lowest level in two years.

Thus far this year, the pan-African microlender has shed 6.4 percent, with steep losses between January and June, before a strong rally from July that by Wednesday had lifted the counter to P1.17.


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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