Letshego Financial Services Botswana

This article is about the Botswana-based microfinance institution. For the Botswana-based holding company that owns this and other African subsidiaries, see Letshego Holdings Limited.
Letshego Financial Services Limited
Private
Industry Financial services
Founded 1998
Headquarters Gaborone, Botswana
Key people
 Frederick Mmelesi
CEO[1]
Products Loans
Total assets BWP:1.5 billion (UDS:150 million)
Website Homepage

Letshego Financial Services Botswana (LFSB), also Letshego Botswana, whose complete name is Letshego Financial Services Botswana Limited, is a microfinance financial institution in Botswana. It is a 100% subsidiary of Letshego Holdings Limited, a holding company, with subsidiaries in over 10 African countries and whose stock is listed on the Botswana Stock Exchange.[2] The headquarters of the institution are located in Gaborone, Botswana's capital and largest city. The MFI maintains about a dozen branches in the country's major urban centers.[3]

History

The institution began operations in March 1998, as Micro Provident Botswana Limited. At that time, the MFI focused on providing unsecured loans to fully employed clients.[4] In 2002, the company was listed on the BSE, through a successful IPO. The funds from this IPO were utilized to expand the group regionally. In 2008, the company adopted the Letshego brand as its official name.[4]

Overview

LFSB is a member of the Letshego Group and in 2015 contributed in excess of 40% to group assets and profits. In addition to lending to individuals who are formally employed in the Government, parastatal and private sectors, the company have started advancing loans to miners. A mortgage product is in development.[1][3]

See also

References

  1. 1 2 Kabelo, Adamson (10 August 2015). "Letshego shifts gears". The Patriot (Botswana). Gaborone. Retrieved 14 August 2016.
  2. ↑ Keabetswe, Newel (21 April 2016). "Letshego leads BSE liquidity in 2016 Q1". Botswana Business Weekly. Gaborone. Retrieved 14 August 2016.
  3. 1 2 Letshego Botswana (14 August 2016). "Letshego Financial Services Botswana: About Us". Gaborone. Retrieved 14 August 2016.
  4. 1 2 LHL (26 July 2016). "Letshego Looks Back at the Last 18 years". Gaborone: Letshego Holdings Limited (LHL). Retrieved 14 August 2016.

External links

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