Thursday, June 4, 2020

Letshego’s hunt for CEO begins…

BY PORTIA NKANI

Local financier ÔÇô Letshego Holdings Limited has begun its hunt for a group Chief Executive.

The company has been without a substantive Chief executive officer for the past few months following a serial departure of its former executives leaders. The past immediate CEO was Smit Crouse who abruptly resigned in March this year, less than six months after he assumed the top post.

Currently the Botswana Stock Exchange Limited (BSEL) quoted financier is led by Dumisani Ndebele on acting capacity after the company’s board of directors, business associates and executives ÔÇô one after another continued to depart for undisclosed reasons.

The acting CEO – Ndebele joined Letshego in March 2019 as Company secretary, replacing Lawrence Khupe who stepped down hardly over a year since he was appointed. It is Ndebele’s second return to the company after he parted with it in 2016 when he was Group Head of Governance and Compliance. His first stint at Letshego was in 1999, a year after the company was formed.

On Thursday, Letshego issued out a statement to its shareholders through the capital markets saying that both internal and external qualifying candidates are being considered for the Group CEO role.

Still in the shareholders’ statement the company noted that with respect to the composition of group board members, “We 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 company said it will make the necessary appointment announcements as soon as it is appropriate, and in line with regulatory requirements.

Meanwhile for its interim results for the six month period to 30 June 2019, the Group expects to publish the on 2 September 2019.

The 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.

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