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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
Exercise extra caution!

Unfortunately, petty thieves tend to be more vicious around this time as they also prepare for the festive season. Culturally, many Batswana go home for the holiday, and petty thieves are amongst those who go home. Burglaries, car break-ins, and attacks on unsuspecting pedestrians seem to be on the rise!That is not all, as scammers continue to take money from pensioners as well as other Batswana who may fall prey to their unscrupulous tactics....

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