Half Year Results 2024
Half Year Results 2024
The Letshego business returned to profitability in the period under review versus the loss posted at the end of December 2023. On a historical cost basis, PAT grew by 4% year on year to BWP74.2m (H1 2023: BWP71m).
Letshego, HY2024 Interest Income: +19% Letshego, HY2024 Operating Income: +22% Letshego, HY2024 Net Customer Advances: +6%
Invest in Africa’s Leading Inclusive Financial Services Innovator
Letshego Africa Holdings Limited stands out as a compelling investment opportunity in the evolving financial services landscape of sub-Saharan Africa. For over two decades, Letshego has built a robust, pan-African presence, delivering inclusive financial solutions to underserved communities, middle-income earners, and micro and small enterprises (MSEs). The company’s strategic focus on digital transformation, supported by strong governance and sustainable business practices, underpins its mission to enhance lives through accessible financial services. Letshego’s proven resilience, diversified product portfolio, and continued expansion across 11 African markets present a unique growth opportunity, with solid foundations for long-term value creation.
Half Year Results 2024
Performance Highlights
The Letshego business returned to profitability in the period under review versus the loss posted at the end of December 2023. On a historical cost basis, PAT grew by 4% year on year to BWP74.2m (H1 2023: BWP71m).
Letshego, HY2024 Interest Income: +19% Letshego, HY2024 Operating Income: +22% Letshego, HY2024 Net Customer Advances: +6%
Aobakwe Aupa Monyatsi, Group Chief Executive
"Our business fundamentals remain strong despite macroeconomic headwinds. Mobile Loans continue to deliver outstanding commercial and social returns in key markets across the Group, supporting our traditional DAS products. The strong operating income and balance sheet growth validate our sound business model."
Interest Income (Pula)
HY 2024
1.87 billion
2023: 1.57 billion
19%
Operating Income (Pula)
HY 2024
1.34 billion
2023: 1.10 billion
22%
Net Customer Advances (Pula)
HY 2024
13.4 billion
2023: 12.6 billion
6%
Board of Directors
Appointments to the Board
The Board has a formal and transparent policy regarding the appointment of directors to the Board. While the appointments are a matter for the Board, the authority to oversee the nomination and to carry out the interview process have been delegated to the Group Governance and Nominations, Committee.
Apart from a candidate’s experience, knowledge, skills, availability and likely fit, the committee also considers a candidate’s integrity, as well as other directorships and commitments to ensure that the candidate will have sufficient time to discharge his/her role properly.
The appointment of non-executive directors is formalised through a letter of appointment and the Board makes full disclosure regarding individual directors to enable shareholders to make their own assessment of directors. All INED board appointments are put to a shareholder vote at the next Annual General Meeting.
New appointees are appropriately familiarised with the Group’s business through an induction programme. The composition of the Board is reviewed on a regular basis to ensure ongoing compliance with the requirements of King IV.
