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Letshego resubmits bid for banking licence

Bouncing back: Letshego’s numbers have improved, and directors are eyeing a banking licence in Botswana PIC: MORERI SEJAKGOMO
Bouncing back: Letshego’s numbers have improved, and directors are eyeing a banking licence in Botswana PIC: MORERI SEJAKGOMO

Homegrown microlender, Letshego Botswana, has mounted a fresh bid for a local banking licence, with its new strategy betting instead on a leaner footprint.

A banking licence would lower Letshego’s cost of funds and rebuild margins squeezed by years of taking beatings in East and West African markets.

The banking application license follows botched plans in 2018 when the group at the time chose to concentrate on expanding its operations and widening its product portfolio across its market.

Editor's Comment
Block 6 shopping complex, a crime hotspot

“Try a crime you end a criminal,treat an environment you end crime.”– Abhijit Naskar, Sleepless for SocietyWhat should be a vibrant entertainment hub has instead become an area where people increasingly fear for their safety.Hardly a weekend passes without reports of people losing their valuables, vehicles being broken into or stolen, revellers being assaulted and injured, and, in the most tragic cases, people being attacked with sharp...

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