Letshego obtains Tanzanian banking licence

Since April this year, the microlender has been running a series of cautionary notices stating that it has agreed to become a 75 percent shareholder of a deposit-taking financial institution that specialises in micro finance by way of subscription for new shares.

The company management stated in a commentary accompanying the group’s consolidated results for the six-month period ended June 30, 2015 that the approval leaves just one final regulatory approval to start deposit-taking in Tanzania.