- Contributes P81m to equity turnover
- Top gainer with 57.3% growth in share price
- Letshego, FNBB, Sefalana top traders
GAZETTE REPORTER
Home grown blue chip pan-African micro lender, Letshego Holdings Limited Group, has emerged top trader on the BSE for the period 1st January to 30 September 2021, boosting equity turnover on the bourse once again.
In its latest market performance report for the period under review, the top three traded companies are Letshego with P81 million, FNBB with P68.4 million and Sefalana with P58.4 million.
“The total turnover from these three companies accounted for 45.0 percent of the total equity turnover, with the leading counter Letshego accounting for 17.6 percent of total equity turnover,” said the latest market performance report from the Thapelo Tsheole-led bourse. “In comparison to the same period in 2020, the top three traded companies accounted for 49.5 percent of total equity turnover with the leading counter Letshego accounting for 23.0 percent (P123.4 million) of total equity turnover.”
According to the BSE report, Letshego emerged a top gainer with a 57.3 percent growth in the share price, followed by Tlou Energy and Seed Co with the gains of 51.5 percent and 45.9 percent respectively during a period under review.
Top property company Turnstar experienced the biggest decline in share price of 24.0 percent followed by Chobe and Sechaba with declines of 22.1 percent and 19.6 percent respectively, the report said.
“Local companies contributed 65.2 percent to total equity turnover or P301.7 million in monetary terms while local individuals contributed 6.9 percent or P32.1 million in monetary terms during the period under review,” the report continued. “Foreign companies contributed 22.0 percent or P101.8 million to total equity turnover while foreign individuals and brokers contributed 5.7 percent (P26.6 million) and 0.1 percent (P0.2 million) to equity turnover respectively.”
In the market performance report for 1st January to 30 August 2021, Letshego was still at the top. Letshego’s contribution to total equity turnover during the period stood at (P73.5 million) followed again by FNBB (P57.8 million) and Sefalana (P53.7 million).
Led by Andrew Okai as CEO, Letshego also posted strong results for half-year when digital strategy boosted growth. “The ‘LetsGo’ digital platform … forms the core part of the digitalisation strategy as 77 percent of the customers on the ‘LetsGo’ are new,” said Okai when the company presented its interim results last month. Digitilisation has driven the business resilience.
“Our first half results are strong, with profit growth above 20 percent in a challenging environment. We have made significant strides in enhancing our execution capabilities, enabling us to go live with our LetsGo digital platform across the 10 countries well ahead of a plan.”