Moody's upgrades Letshego outlook

In a statement, the renowned credit rating agency upheld Letshego’s prime issuer ratings and changed the outlook to stable from negative. Letshego’s outlook and ratings was downgraded by Moody’s two years ago when government indicated its intention to stop the company’s direct payroll deduction for public servants.

“The primary driver for the rating upgrade is Moody’s assessment of a lower likelihood that the authorities in Botswana will impose restrictions on the company’s payroll deduction model.