Letshego aims to be pan-African digital giant
Friday, March 11, 2022 | 910 Views |
Changing fortunes: Okai says Letshego is moving into a new high growth trajectory
From its traditions as a deduction at source business targetting the civil service, Letshego has expanded over the years to the mass marketing of its credit products and also financing of small to medium enterprises.
The microlender has also grown its reach to 10 other African countries and embarked on an aggressive digitisation strategy that has increased its customer base beyond the deduction at source core.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...