
Letshego Africa Holdings Limited announced its decision to withdraw from several East and West African markets to concentrate management focus on its core Southern African operations. The microlender has entered into binding sale and purchase agreements with Dubai-based investment firm Axian Digital Venture Holdings and Management Limited to offload 100% of its issued share capital in its subsidiaries in these regions. The entities slated for disposal include Letshego Ghana Savings and Loans PLC, Letshego Faidika Bank Tanzania Limited, Letshego Microfinance Bank Nigeria Limited, Letshego Rwanda PLC Limited, and Letshego Uganda Limited. This move aligns with Letshego's portfolio optimisation strategy, aiming to enhance capital efficiency and streamline its structure. Letshego Group CEO, Reinette van der Merwe, stated that the transaction is a significant step in simplifying the Group and focusing on markets where it possesses stronger positioning and more compelling growth opportunities.
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Mmegi.

Botswana's Draft Media Bill of 2025 proposes the establishment of a Media Ombudsman to enhance journalistic accountability and safeguard public trust. This initiative aims to restore media credibility and improve relations between the media and the public, especially as nations confront issues like disinformation and misinformation. The proposed independent Office of the Media Ombudsman, operating under the Media Council, would receive complaints, mediate disputes between the public and the media, recommend remedies, and promote ethical journalism. Unlike the often expensive and slow court system, the Ombudsman is designed as an accessible, non-judicial mechanism for resolving media disputes. Historically, Botswana's media environment has relied on statutory regulation, self-regulation, and legal remedies like defamation litigation. However, individuals wronged by inaccurate reporting or ethical breaches often faced limited options: either complain directly to the media house without guaranteed satisfaction or pursue costly legal action. The proposed Ombudsman seeks to bridge this gap by providing an independent, impartial, and non-judicial body to resolve complaints regarding journalistic conduct and media content. The legislation specifies that the Ombudsman will operate free from external direction or control, which is crucial for maintaining public trust in the fairness of the process. The Ombudsman's primary responsibilities will include investigating complaints and medi
Must ReadFormer Minister of Minerals and Energy, Lefoko Moagi, is on trial for corruption and money laundering, accused of accepting P4.7 million from New Energy Company Pty Ltd as a reward for issuing prospecting licenses. Matlhogonolo Samuel, the deputy director for prospecting and licensing in the Department of Mines and Moagi's former subordinate, testified as a State witness. Samuel detailed the process for approving eight prospecting licenses in Gantsi, Tsabong, and Tutume, which were granted to New Energy. He confirmed that six licenses were approved on August 5, 2024, and two more on September 11, 2024. Samuel stated he was involved in the process and made recommendations to the director of the Department of Mines, explaining that applications undergo multiple levels of scrutiny before reaching the minister for final approval. He became involved in the matter after being approached by investigators from the Directorate on Corruption and Economic Crime in October 2025.

The requested page, which appears to be related to "Elevate Africa launches Threads of Africa Fashion Film prize 2026," could not be found on the Mmegi website. The site displayed a "404 The page you're looking for does not exist!" error message. Mmegi is described as a leading independent source for news, current affairs, politics, business, sport, and entertainment in Botswana.