Letshego improves lives

SHARE   |   Monday, 25 April 2016   |   By Staff Writer
Mmelesi Mmelesi

This past Saturday Letshego gave away a Moraka of 19 heifers and 1 bull to one of their lucky customers – Keipoletse Mochutshwane from Maun. Masses of people from Palapye and surrounding areas thronged Kediretswe Freedom Square in Palapye on April 16, 2016, to witness yet another one of Letshego’s grand give aways to their customers. Speaking at the “Win a Moraka” Grand Draw, Chief Executive Officer, Frederick Mmelesi, outlined the efforts Letshego has undertaken to improve lives in communities across the country. Mmelesi underscored their transformational strategy which intends to build recognition of Letshego as a leading financial services group across Africa through internal and external partnerships to deliver a sustainable and impactful brand. Mmelesi said part of this is to support the government’s agenda by building a leading brand through a strategic focus on sustainable financial inclusion. He said financial inclusion, which forms a core of the government’s agenda and Letshego transformational strategy, is focused on delivery of financial services at affordable costs to sections of the disadvantaged and low or middle income segments of the society. To this end, Letshego has already started financing micro small enterprises (MSEs) in countries like Kenya, Rwanda, Tanzania and Uganda, with Botswana planning to launch soon.

“In addition to the foregoing, Letshego has also joined hands with governments to support their causes to reduce death and disability from non-communicable diseases (NCDs) through community access to quality primary healthcare,” said Mmelesi. He said that this will bring social benefit to less-served populations within Letshego footprint countries. The key priorities of this initiative will be Diabetes, Hypertension and Cardiovascular Pulmonary disease. Mmelesi said some of Letshego’s achievements include deposit-taking and other transactional services in Mozambique and Rwanda, a provisional banking licence granted in Namibia, the acquisition of Advans Bank in Tanzania and the acquisition of FBN MFB. The acquisition of FBN MFB marked Letshego’s debut into Nigeria as a nationally licenced microfinance bank, among other key milestones. Excitedly, Mmelesi said part of Letshego’s strategy is to transform from being a product led lender to a “customer needs” driven provider of financially inclusive solutions. “We are growing with the times through digitisation and traditional delivery channels will be replaced by access, anytime anywhere. Our Digitisation strategy includes using of mobile apps, USSD, call centres, and internet banking.”

Mmelesi highlighted that, as part of Letshego’s transformational strategy, they have embarked on a nationwide campaign to sensitize and educate the working class and populace on financial literacy. This initiative was conceived after the realization that personal finances are mismanaged resulting in over-indebtedness, more especially by civil servants. This is a topical problem that has been observed to be a national concern. Letshego’s Financial Consultant Nelson Letshwene engaged on financial literacy with the audience. He advised all in attendance (many of whom do not have a financial background) on how to manage one’s finances in order to multiply them. He urged the audience not to be content with savings at the bank but rather, to invest in shares and other endeavors that will grow their money.