Letshego to exit East and West African markets, focus on Southern Africa
via Mmegi3 min read
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.
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