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Letshego celebrates 21 years of success

SHARE   |   Monday, 07 October 2019   |   By Ricardo Kanono
[L-R] Dumi Ndebele, Dr Alfred Madigele and Enos Banda [L-R] Dumi Ndebele, Dr Alfred Madigele and Enos Banda

Letshego Group recently hosted an private event on Masa’s Rooftop (Gaborone, Botswana) to thank valued public sector partners, investors, shareholders and funders for their role and support in Letshego’s inspiring journey of growth and expansion over the last 21 years. 

Guest of Honour and Keynote speaker, Minister of Health and Wellness, Dr Alfred Madigele, reiterated the value of strategic partnerships and the important role Botswana-born multinationals provide in taking Botswana’s unique ‘Botho’ and culture into regional and international markets.

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Dr Modigele said, “In an age of optimisation, streamlining, outsourcing and maximisation, strategic partnerships remain an increasingly valuable opportunity to increase one’s reach, access, offering and return on investment.  I am standing here today - for good reason – in that Letshego is not only a financial partner for many Batswana, but also a strategic partner of the Government of Botswana.”

He added, “In expanding to 11 markets across Africa – Letshego has flown the Botswana flag and shared our unique Botho with fellow Africans outside of Botswana, while forging productive partnerships across our dynamic continent.”  

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In comparing Letshego’s humble beginnings in Gaborone 21 years ago to where the pan-African inclusive finance provider is today, Enos Banda, Letshego’s Group Chairman said, “In September 1998 – 21 years ago - in a one-roomed office rented in Gaborone, Letshego disbursed a loan to our very first government employee customer – Lesego – a wife and mother, who worked for Botswana’s Department of Education.  Letshego’s loan was one of the limited 5 loans we disbursed per day, given our humble beginnings and need to carefully manage our budding balance sheet.”

Enos Banda added, “Indicative of Letshego’s spirit, culture and social cause, it is inspiring to know that 2 out of those 4 employees who disbursed that first government employee loan in September 1998, are still with us today!  Since opening our doors in Gaborone 21 years ago – Letshego has not only extended its reach across sub Saharan Africa, but also achieved double digit growth in loan disbursements, every year, without fail.”

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From the one-roomed office in 1998, Letshego now has more than 300 outlets spread across 11 African markets.  From 4 employees, the Group now has 3,000.  Government deduction codes have been secured in 10 out of our 11 markets, and the Group has 6 deposit taking licences. 

With just under half a million customers, Letshego is now listed on two African stock exchanges – Letshego Holdings Ltd (LHL) is listed on the Botswana Stock Exchange and Letshego Bank Namibia (Letshego’s Namibian subsidiary) is listed on the Namibian Stock Exchange. 

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Dumisani Ndebele, Interim Group CEO, expressed his sincere appreciation and gratitude for the invaluable partnership that the Botswana Government and regulators have provided to Letshego over the last 21 years as well as thanked investors and strategic partners for their ongoing support. “As a pan-African lender, committed to working with governments to support inclusive finance and extend financial services to up and coming emerging consumers and budding entrepreneurs, our partnership with the Botswana Government remains paramount to our multiplying our social impact.”



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