Letshego rebrands, offers broader financial services
Letshego Financial Services, the largest entity on the Botswana Stock exchange, is intensifying its focus on inclusive finance and has launched a refreshed brand to reflect is expanded range of new financial offerings. Launched last week, Letshego said the moves leverages the provisional banking license obtained from the banking regulator, the Bank of Namibia.
At the event to announce the change in focus, Head of Corporate Affairs, Ms Mythri Sambasivan-George said “In Namibia, Letshego will look to align with the Namibian government’s agenda for sustainable socio-economic development. To this end it has committed to support the national Harambe Prosperity Plan.”
She explained that the refreshed brand with its newly articulated promise of “Let’s improve life” comes at a time when the group has entered a transformation phase with a number of positive digital developments taking place that will have a sustainable impact on many lives in Africa.”
She added that Letshego is looking at the provision of more financial services by migrating their operations to a digital platform.
At the same event, Letshego Financial Services CEO, Ms Ester Kali explained that “there are significant developments in the Namibian market that we as a business recognise and passionately want to support.” Stating their new direction, the CEO said Letshego’s key focuses would be in aligning financial resources to poverty eradication and ensuring the provision of and access to basic necessities such as clean drinking water and healthcare for all Namibians, which she said is underpinned in the Presidents Harambe Prosperity Plan.
On the general operations of Letshego and their policies, Sambasivan-George disclosed that their values include dependency, flexibility and simplicity, adding that they aim to provide financial services to those less fortunate in society “the citizens which the average bank turns away, who are in the micro level of finance.” She also said that Letshego does not include collateral on loans, however evaluates credit history and encourages clients to bank responsibly.
She said Letshego wishes to engage with the media to educate Namibians on being responsible financial citizens as the country has a high debt load due to frivolous spending and investment in depreciating assets.