LETSHEGO (P339.1 MILLION)
Since its formation in September 1998, Letshego has experienced rapid growth and evolved from being just a consumer lending entity to a fully fledged financial services company. Over the years, it has introduced innovative products and services which include legal insurance, funeral insurance, Letshego Loan, personal development Thuto Loan, No deposit Vehicle Finance and the Executive Loan.
A Botswana-born brand that today stands as the largest indigenous company on the BSE by market capitalisation and profitability, Letshego said late February that it will refresh its brand and roll it out in its 10 country footprint to build a leading financial services brand in the continent.
As part of a “transformation phase” Letshego is expected to soon rename some of its foreign based businesses during the year 2016. Apart from Botswana, Swaziland and Namibia, Letshego Holdings has businesses in Tanzania, Mozambique, Uganda and lately Nigeria.
The Botswana Stock Exchange (BSE) quoted micro lender says some of its businesses which include banks in eastern and western Africa which have been operating under different names will be renamed to “Letshego”.
SEFALANA (P91.3 MILLION)
Sefalana Group consists of the following business segments a leading wholesaler (Sef Cash) and retailer (Sefalana Shoppers) of fast moving consumer goods. Sefcash operates 48 stores throughout Botswana trading under the names Sefalana Hyper Store, Sefalana Cash & Carry, Shoppers Supermarket, Capital Tobacco and Liquor Shop and has entered the Namibian market. Sefcash currently employs over 2,000 people.
At the same time the group has made significant strategic investments in property. The majority of the Group’s properties are held by Meybeernick Investments (Pty) Limited, a wholly owned subsidiary of Sefalana. The Group’s property portfolio is valued at more than P 300 million, with over 525 000 square meters of land. Sefalana properties are spread throughout the country, including office blocks, workshops, factories warehouses and a first class well positioned property in Zambia. The company and its subsidiaries occupy roughly three quarters of the developed property and earn a considerable rent income from its third party tenants. Sefalana continually identifies properties in strategic locations and constantly evaluates investment projects to maximize return to shareholders.
Another Sefalana subsidiary, Foods Botswana operates a factory in Serowe from which it mills and produces sorghum, soya and maize based extruded products, malt and diastatic malt. The market for the products of the company is split between provision of enriched meals for the Botswana Government feeding schemes and its own branded products distributed through Botswana.
CHOPPIES (P65.4 MILLION)
The Group is regarded as the market leading mass grocery retailer in the country, and retails fast moving consumer goods, household goods, fruit and vegetables, meat products, dry, fresh and baked goods through its stores in Botswana and South Africa and Zimbabwe.
The group continued its trailblazing foray into the continent recently with an acquisition of retail stores owned by Jwayelani Retail (Proprietary) Limited. The retail stores were acquired in South Africa following approval by the Competition Commission on January 29 2016.
According to Choppies, Jwayelani is a respected brand in KwaZulu-Natal and Eastern Cape provinces, which has been in operation for over 25 years. The acquisition broadens Choppies’ South African footprint to 61 stores and 170 stores across all markets in four countries namely Botswana, South Africa, Zimbabwe and Kenya. Hardly a year ago had Choppies boasted of 121 stores across Africa, which at the time excluded its footprint in Kenya. Now at 170, Choppies has increased its African footprint with an additional 49 stores within a very short time.
BIHL (P58.1 million)
The group (Botswana Insurance Holdings Limited) is involved in marketing and supporting life insurance, pension and investment products. The company was incorporated in 1975 and listed on the Botswana Stock Exchange in 1991.
The group remains steadfast in its mission to become a significant broad based financial services provider in Botswana and Southern Africa.
Upon assuming the top post, Group Chief Executive Officer (CEO), Catherine Lesetedi-Letegele said she will continue with the twin strategy of growth and profitability, which has worked well for the financial services group so far. She affirmed her conviction that BIHL is a reputable organization that comprises of equally strong subsidiary businesses.
Lesetedi-Letegele was appointed BIHL Group CEO effective 1st March 2016. She is well respected in financial circles and is said to possess a vast set of skills from her experiences across the financial services sector. Her career spans over two decades, most of which were within the BIHL Group. Lesetedi-Letegele is well known as a transformative leader. One of her notable achievements at BIHL include introduction of the BLIL Life Rewards Card, which is said to be reinventing the entire insurance sector.
FNBB (P41.7 MILLION)
FNBB is a commercial bank that operates nationwide in Botswana, providing retail and corporate banking. Regarded as the fastest growing and most innovative bank in the country, FNBB has the largest network of Automated Teller Machines (ATMs).
Although FNBB’s financial position remains strong, it has generally performed badly during the financial year that ended in 30 June 2015.
Recently FNBB launched its latest digital banking solution dubbed eWallet bulk send. The solution is tailored for FNB businesses, commercial and corporate customers.
The amplified version of FNB eWallet, eWallet bulk send allows business account holders to send money to multiple recipients at a go through the online banking enterprise platform.
Speaking at the launch, the director of FNB business segment, Ogone Madisa-Kgwarae said they were proud of the new development because it augments their efforts to promote financial inclusion by banking the unbanked.
She said FNB made a milestone in 2010 that revolutionised banking when they were the first bank to launch an instant money solution called eWallet.
FNBB says over the years the eWallet service has shown tremendous growth and that to date more than 2.7 billion worth of recipients have received money through the solution since its inception.
