Letshego gets aggressive with deposit taking

Friday, May 08, 2015

The country’s largest microlender, Letshego says its strategy will rely heavily on establishing deposit-taking operations across its nine-country footprint in Southern and Eastern Africa.

Traditionally a consumer lending company, Letshego has now embarked on a mission to diversify into a deposit-taking financial institution.

Recently, the company announced it has entered into negotiations with a third party in Tanzania to become a 75 percent shareholder in a deposit-taking financial institution that specialises in micro finance.

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