HEADLINE NEWS

 

PLOTS FOR SALE

 

ClassifiedsAds

Opinion

SocialMedia

Sports

Supplements

Weather

 

 
BOFEPUSU report BOTS to ILO
 

LETSHEGO Reports Double Digit Growth

Letshego Holdings Limited (“Letshego”) has started rolling out a home loan facility for Letshego clients allowing customers to secure home loans with Jamal offering discounted prices for building materials.

Home improvement and affordable housing loans make up 5% of total loan. Education, affordable housing and supply chain financing pilots have also commenced in Tanzania and Nigeria,” said Chris Low, Letshego Holdings Group Managing Director.

He said, “Total borrowing customers increased from 300,000 to 345,000.”

Letshego Group’s consumer lending segment is 88% of the overall loan portfolio with MSE (micro and small enterprises) at 12%.  Loans and advances to customers are up 19% in BWP terms year-on-year (14% excluding Ghana), supported by stable interest margins and cost of funding.  

The quality of the loan book remains at targeted levels with the exception of Rwanda, where the Group has taken additional provisions on a specific segment of the loan portfolio. 

Customer deposits grew marginally, however the impact of Letshego customer savings solutions is only expected to reflect in subsequent reporting periods.  Letshego introduced new funding lines resulting in a 45% increase in borrowings, and a strong funding pipeline is in place to support the business growth going forward. 

Letshego Holdings Namibia Limited (LHN) has achieved another significant milestone for the Group by securing regulatory approval for its inclusive Initial Public Offering (“IPO”), on the Namibian Stock Exchange (NSX) Letshego Namibia will be the first primary listing by a local company on the Namibian Stock Exchange in four years.  This share offer has specifically been priced and structured to enable more Namibians to participate in Letshego Namibia’s growth story.  

The IPO opened on 25th August 2017 and is expected to close on 22nd September 2017.  Inclusion remains the cornerstone theme to the IPO, with community education and engagement programmes forming an integral part of Letshego Namibia’s marketing and awareness campaign across the country. 

Strategic partnerships remain an important catalyst to achieving our expansion ambitions within all of our markets.  In Rwanda and Ghana, for example, we have partnered with a Fintech business and local mobile operators to pilot projects which stand to reach many thousands of new customers, said Low.

Letshego’s drive to diversify its solutions across existing markets is gaining traction, with a number of educational facilities in Tanzania and Nigeria now enjoying both credit and savings solutions.  The Group’s agency network in Mozambique and Tanzania uses a number of different business models, with the aim of increasing access points for customers wherever they may be located.

Mozambique is the first market to pilot ‘Blue Box’, a technology-driven agency banking model which uses biometric authentication to on-board customers, while providing both saving and loan solutions for the under-served community. 

 

Efforts to grow franchise have seen Ghana and Rwanda short term pilot introduced over 30,000 new customers off a new digital platform. Letshego customer access points up from 278 in 2016 to 307. Since Letshego listed on the Botswana Stock Exchange it has raised BWP646 million from shareholders.

 

Letshego has returned BWP1, 9billion by way of dividend and share buy backs. Of this BWP1,2billion has been returned since 2014 

 

Currency Converter

Convert 

into

  

BQA Introduces Online Submission

Mascom Live Sessions

GUC Programmes

SNAP SHOT TTT

Opinion Poll

Who do you think is the next Bots President..?!

1
464
UDC - Duma Boko
(3)
2
338
BCP - Dumelang Saleshando
(4)
3
276
BDP - Seretse Khama Ian Khama
(8)
Add a new response!
» Go to poll »
5 Votes left

Newsletter



Receive HTML?

Joomla : The Tswana Times - T