Letshego's Profit After Tax Down 2%

Letshego Office
Letshego Office

Letshego Holdings, the pan-African microlender, has recorded a two percent decrease in profit after tax to P364 million compared to P370 million recorded on the prior year.

Presenting the group’s half-year results, interim group CEO, Dumisani Ndebele said the financial performance for the listed consumer lender in the six months to June 2019 was within expectations.

Ndebele said they expect the company’s financial fundamentals to remain robust over the next 12- to 18-month horizon, despite risks associated with its regional expansion.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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