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0 News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/letshego-africa-extends-cautionary-alert-over-potential-stake-sales/
Letshego Africa Holdings Limited (LAHL), a Botswana-based pan-African microfinance group, has renewed its cautionary notice to shareholders regarding potential significant transactions involving its subsidiaries in East and West Africa.
The update, mandated by the Botswana Stock Exchange (BSE) listing rules, follows an initial alert issued on January 24, 2024, and reaffirms ongoing discussions that could reshape the company’s regional footprint.
In a regulatory filing dated September 27, 2024, Letshego Africa first disclosed its exploration of strategic options, including possible stake sales or acquisitions, which may require shareholder and regulatory approvals. While specifics remain undisclosed, the group emphasized that any deal would align with its goal to streamline operations and enhance financial sustainability across its 11 sub-Saharan markets.
“Shareholders are advised to exercise caution when trading LAHL securities until further details are finalized,” the board stated, noting that daily operations across its lending and microfinance units remain unaffected by the negotiations.
The announcement underscores Letshego’s efforts to optimize its portfolio amid shifting economic conditions in Africa. Analysts speculate the move could involve divesting non-core assets or forming partnerships to bolster liquidity.
Philip Odera, Group Board Chairman, and Brighton Banda, Interim Group CEO, reiterated commitments to transparency, pledging timely updates as talks progress. The next advisory is expected within 30 days, per BSE guidelines.
News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/letshego-africa-extends-cautionary-alert-over-potential-stake-sales/
