Letshego acquires Tanzanian bank


The Botswana Stock Exchange listed financial services company, Letshego Holdings Services has acquired a 75 percent stake in a commercial bank in Tanzania as part of the strategy to advance their financial inclusion in Africa.

According to the group Managing Director, Chris Low the acquisition of Advans Bank Tanzania has been done by a way of subscription for new shares.

“This acquisition is a clear demonstration of our commitment to providing financially inclusive services to the lower and middle income segments of the society that have historically been under seen by traditional banks and lenders,” he said.

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The elections had two teams namely: Team Reshaping MISA and Team Integrity. All Team reshaping MISA member won except for one candidate for the Secretary post. One can say it was a long road to the elections, looking at the fact that it took four years for the elections to be held. MISA board elections are supposed to be held every two years, but they could not be held in time due to the outbreak of the COVID-19 pandemic, which affected many...

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