Letshego hits road to recovery

Friday, February 28, 2020

Weight lifted: Banda says the CEO's appointment is sweet relief

After a horror year in which investors saw about P2 billion in value wiped away, pan-African microlender, Letshego Holdings appears to be back on the road to recovery. Its share price is gaining, profits have risen higher and the group may even resubmit an application for a banking licence. Staff Writer, MBONGENI MGUNI writes

On Monday, Letshego Holdings will unveil full year 2019 results showing an increase of up to P157 million in pretax profits, continuing a long standing track record of delivering returns to investors.

However, the 21-year old homegrown microlender, which boasts a loan book of P9 billion in 11 African countries, had a nightmarish 2019. Its share price fell 56%, the worst performance for both the Domestic and Foreign indices on the Botswana Stock Exchange (BSE).

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