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BILETS-Financial Results
Letshego Holdings Limited
Incorporated in the Republic of Botswana
Registration number 98/442
(JSE Code: “BILETS”)
(“Letshego Holdings” or “the Company” or “the issuer”)
This announcement is being released on the Johannesburg Stock Exchange for
information purposes only in respect of Letshego Holdings Limited’s Note
Programme.
NOTICE TO ALL STAKEHOLDERS - LETSHEGO HOLDINGS LIMITED – TRADING UPDATE
Letshego Holdings Limited ("LHL" I "the Company" 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.
Interim results for the six month period to 30 June 2019: The Group
expects to publish its unaudited interim results for the six month period
ending 30 June 2019 on 2 September 2019. This is subject to the
completion of all internal governance procedures. Providing unaudited
guidance, Letshego’s Group profit before and after tax are both expected
to be in line with the prior trading period to 30 June 2018. In addition
to this, most key performance indicators are expected to be within
forecasted ranges.
Update on Group Management: Letshego continues to be led by Dumisani
Ndebele, who is serving as the Group’s Interim CEO. The Letshego Group
Board has commenced the process for the identification and appointment of
a permanent Group CEO, through an open and transparent process, supported
by a leading global executive search firm. In line with Letshego’s
inclusive and comprehensive Group Recruitment Policy, both internal and
external qualifying candidates are being considered for the Group CEO
role. Other appointments to strengthen the management team are also in
process by the Company.
Board composition: With respect to the composition of the Letshego’s Group
Board itself, members are concluding imminent appointments that will see
specialist skills added to Letshego’s list of Independent Directors
including fintech, financial services and risk management.
In the interest of following a full and comprehensive search and
recruitment process, the Letshego Group Board will make the necessary
appointment announcements as soon as it is appropriate, and in line with
regulatory requirements.
Strategy update: The Group Board confirms that Letshego remains committed
to progressing its financial inclusion strategy, with a key focus on:
enhancing financial performance; strengthening the risk management
framework; increasing cost efficiencies; improving asset quality and
reducing the Group’s effective tax rate. The Group has commenced a review
of all aspects of the business that is expected to be concluded in the
second half of 2019.
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For and on behalf of the Board
E Banda
Group Chairman
GABORONE, Wednesday, 31 July 2019
Debt sponsor in South Africa
Kea Sape: 0117215594 or kea.sape@standardbank.co.za
The Standard Bank of South Africa Limited, acting through its Corporate and
Investment Banking division
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Date: 31/07/2019 04:00:00
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