Letshego enters Kenyan market

Kenya becomes the 8th country in which  Letshego has set up shop. The company already operates in Botswana, Mozambique, Namibia, Swaziland, Tanzania, Uganda and Zambia.  In a statement availed to shareholders on Friday, the company said that in line with its Pan-African expansion plans of the group, they are in the process of having a 62.52 percent stake in the issued share capital of Micro Africa Limited (MAL), a private company incorporated in Kenya.

MAL's purchase price is P22.4 million ($3.3 million) and the company says the deal is solely being funded from existing resources. "MAL is an established company that has been operating in Kenya since 2000 with subsidiaries in Rwanda, South Sudan and Uganda and has an associated company in Tanzania. "MAL operations are the provision of secured and unsecured personal, SMME and group loans."