12 August 2021: Letshego Holdings Limited (“LHL” I “the Group” I “Letshego”) was incorporated in 1998, is headquartered in Gaborone and has been publicly listed on the Botswana Stock Exchange (BSE) since 2002. Letshego is an inclusive finance focused Group with microfinance banking and consumer lending subsidiaries across eleven countries in sub-Saharan Africa.
In line with the Listing Requirements of the Botswana Stock Exchange, the Board of Letshego Holdings Limited wishes to provide a trading update to shareholders.
Letshego Group has registered robust performance in the first half of 2021, with net advances increasing by over 15% compared to the same financial period last year.
As a result of this strong growth, Group Profit Before Taxation (PBT) for the six months ended 30 June 2021 is expected to be between 15% and 25% (P66 million to P111 million ) higher than the restated Profit before Taxation for the six months ended 30 June 2020 (H1 2020: P443 million).
Group Profit After Taxation (PAT) for the six months ended 30 June 2021 is expected to be between 20% and 30% (P49 million to P73 million) higher than the restated Profit After Taxation for the six months ended 30 June 2020 (H1 2020: P245 million) .
The Group Financial Results for 30 June 2020 were restated to reflect the Namibia preference share conversion in line with regulatory requirements. This was published in the 2020 Group Integrated Annual Report.
By order of the Group Board