Letshego`s offshore acquisition brightens up dull market

28 January, 2009 in Botswana, Business

source: Mmegi
BRIAN BENZA
Staff Writer

Buoyed by news of another acquisition in Namibia, Letshego lit up the market last week in an otherwise dull trading period on a bourse still characterised by highly risk-averse investors.

Letshego recorded the highest trades during the week on increased buying as a total of five million shares were traded on the counter alone.

Investor sentiment on the counter has increased following the release of a trading update, advising that the company has acquired the entire share capital of Edu-Loan (Namibia) (Pty) Ltd., a private company incorporated in Namibia.

“We do not expect the new acquisition to contribute significantly towards the group financial results for the year ending 31 January 2009, but will certainly go a long way in boosting the firm’s operations and top line growth in the long run,” said Gary Guma of [continue reading]

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