Letshego Holdings Limited Results Presentation For The Year Ended 31 st January 2013 LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. Botswana . Kenya . Lesotho . Mozambique . Namibia . Rwanda . South Sudan . Swaziland . Tanzania . Uganda . Zambia LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia
Contents Group Business Structure Developments During The Year Financial Review African Footprint Peer Comparison Progress On Growth Strategies Q&A LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. Botswana . Kenya . Lesotho . Mozambique . Namibia . Rwanda . South Sudan . Swaziland . Tanzania . Uganda . Zambia 2 LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia
Group Business Structures LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. Botswana . Kenya . Lesotho . Mozambique . Namibia . Rwanda . South Sudan . Swaziland . Tanzania . Uganda . Zambia 3 LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia
Group Corporate Structure Letshego Holdings Limited (IFSC registered and listed OPERATING on the Botswana Stock COMPANIES Exchange) 85% 85 % 95% 85% 100% 100% 87% 96.25% 100% Letshego Letshego Letshego Letshego Letshego Financial Letshego Financial Letshego Letshego Financial Financial Uganda Ltd Services Letshego Financial Services Tanzania Financial Services Services Swaziland Kenya Ltd Services (Pty) Ltd Ltd Lesotho Services (Namibia) (Pty) Ltd Ltd (Zambia) Ltd Mozambique (Pty) Ltd (Botswana) AMDC LTD (Mauritius) 100% Rwanda Finance SS Micro Uganda Micro Finance Ltd 100% Ltd 74% Ltd 97.5% LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. Botswana . Kenya . Lesotho . Mozambique . Namibia . Rwanda . South Sudan . Swaziland . Tanzania . Uganda . Zambia 4 LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia
Organisation Structure GROUP MD Jan Claassen (60) Bcom, LLB, Banking GROUP CFO RISK & COMPLIANCE BOTSWANA TANZANIA Colm Patterson (41) Dumisani Ndebele (47) Fred Mmelesi (44) Marion Moore (58) FCA, CPA B,Acc ,MBA, FCCA, FCPA AAT,MBA CPA,CISA GROUP COO SWAZILAND UGANDA GROUP STRATEGY & COMMS Shawn Bruwer (36) Mbuso Dlamini (36) Lydia Andries (40) Geoffrey Kitakule (43) BCom, CIMA Bcom, CA (SA ) Actuarial, Strategy, Banking MBA Finance, Msc. Comp. BA Statistics, ML IT HUMAN RESOURCES ZAMBIA RISK & COMPLIANCE Portia Ketshabile (44) George Barlow (41) NAMIBIA Barati Rwelengera (35) AAT, MDP BSc, MSc Economics Willem Steenkamp (61) AAT,ACCA BA,D,Ed GROUP CIO MOZAMBIQUE Letshego Kenya Limited GROUP FINANCE MANAGER Duduetsang Olsen (35) Melissa Huang Williams (40) Tim Carson (45) Mythri Sambasivan- BBA,MBA CPA CA SA George(34) FCCA,CIMA,FCPA GROUP BUSINESS DEVELOPMENT MANAGER PROJECTS MANAGER Onkemetse Mtonga (35) Bacc, ACCA Andrew Knight (45) BEng(Honours) Electrical Engineering, MBCS LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. Botswana . Kenya . Lesotho . Mozambique . Namibia . Rwanda . South Sudan . Swaziland . Tanzania . Uganda . Zambia 5 LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia
Board of Directors CHAIRMAN JA Burbidge (62) Appointed to the board:2002 D. Ndebele(47) J. A Claassen (60) G Hassam (37) I Mohammed (42) Appointed to the Appointed to the Appointed to the Appointed to the board:2000 board:2003 board :2009 board: (2010) J De Kock (54) S Price (60) M Dawes (55) Appointed to the Appointed to the Appointed to the board:2013 board:2013 board:2009 R Thornton (60) L.E Serema (65) Appointed to the Appointed to the board:2013 board:2009 Executive directors Independent non-Executive directors Non-independent non-executive directors LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. Botswana . Kenya . Lesotho . Mozambique . Namibia . Rwanda . South Sudan . Swaziland . Tanzania . Uganda . Zambia 6 LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia
Developments During Financial Year Ended 31 January 2013 LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. Botswana . Kenya . Lesotho . Mozambique . Namibia . Rwanda . South Sudan . Swaziland . Tanzania . Uganda . Zambia 7 LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia
Main Events During The Year ZAR 700 million raised from the maiden issue of the JSE listed Letshego’s medium term note program in December 2012 MTN program also listed on the BSE Micro Africa Limited (“MAL”) acquisition completed and contributed P6.7 million to profit before tax for the seven months since acquisition of a 62.52% stake Letshego Lesotho commenced operations during September 2012 Letshego Mozambique has established offices in all states across the country Letshego now has operations in 11 countries, with 235,017 customers, 1,012 members of staff and 204 branches LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. Botswana . Kenya . Lesotho . Mozambique . Namibia . Rwanda . South Sudan . Swaziland . Tanzania . Uganda . Zambia 8 LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia
Main Events During The Year (cont) Good progress made in the implementation of a new retail banking platform Phased roll out is expected to start during Q3 in the current financial year Letshego Mozambique has obtained Central Bank approval to commence deposit taking – this scheduled for Q3 in the current financial year Banking license applications in certain territories under way and at different levels of progress Letshego Zambia operations scaled down – focus on collections Dividend payout of 25% of PAT. Total dividends paid and declared during the year of P170 million – giving a dividend yield of 3% 9 LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. LFS Botswana. LFS Lesotho. LFS Mozambique. LFS Namibia. LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia LFS Swaziland. LFS Tanzania. LFS Uganda. LFS Zambia
Financial Review 31 January 2013 Botswana . Kenya . Lesotho . Mozambique . Namibia . Rwanda . South Sudan . Swaziland . Tanzania . Uganda . Zambia 10
Performance Highlights • Profit before tax by 18% to P841.4 million((2012: P711.2 million) • Basic EPS by 12% to 33.1 thebe a share (2012: 29.6 thebe per share) • 40% of Group PBT generated outside of Botswana (2012: 35%) • Cost to income ratio of 26% (2012:24%) • Impairment charges of 1.3% on the average advances book (2012: 1.6%) Botswana . Kenya . Lesotho . Mozambique . Namibia . Rwanda . South Sudan . Swaziland . Tanzania . Uganda . Zambia 11
Performance Highlights (conti.) • Advances by 10% to P 3.3 billion from P3.0 billion in the previous year • Non-Botswana countries now makes up more than 50% of overall advances to customers • Significant cash resources • Debt to equity ratio of 46% (2012: 27%) * * 32% post conversion of loan from ADP 1 Holdings 2 Botswana . Kenya . Lesotho . Mozambique . Namibia . Rwanda . South Sudan . Swaziland . Tanzania . Uganda . Zambia 12
Group Statement Of Financial Position AT 31 JANUARY 2013 2012 (Audited) (Audited) Change P’000 P’000 % ASSETS Cash and cash equivalents 807,254 73,612 Advances to customers 3,336,204 3,034,639 10 Other receivables 12,143 18,730 Short term investments 26,206 24,187 Long term receivables 11,468 11,120 Plant and equipment 14,559 9,513 Intangible assets 12,457 3,291 Goodwill 49,948 27,824 Deferred taxation 8,939 9,809 Total assets 4,279,178 3,212,725 33 LIABILITIES AND EQUITY Liabilities Trade and other payables 78,828 70,732 34,185 - Cash collateral Income tax 28,327 14,275 1,277,395 802,864 59 Borrowings Total liabilities 1,418,735 887,871 Shareholders’ equity 689,243 669,876 Stated capital Foreign currency translation reserve (45,982) (32,522) 19,173 15,654 Share based payment reserve Retained earnings 2,112,485 1,617,970 Total equity attributable to equity holders of the parent company 2,774,919 2,270,978 22 Minority interest 85,524 53,876 2,860,443 2,324,854 Total shareholders' equity Total liabilities and equity 4,279,178 3,212,725 33 Botswana . Kenya . Lesotho . Mozambique . Namibia . Rwanda . South Sudan . Swaziland . Tanzania . Uganda . Zambia 13
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