Letshego shelves plans to open bank in Botswana

Low addressing the media in Gaborone yesterday. PIC KEBOFHE MATHE
Low addressing the media in Gaborone yesterday. PIC KEBOFHE MATHE

Botswana’s largest consumer lending company Letshego will not be re-applying for a banking licence in Botswana anytime soon. The micro lender says it has opted to build capability from other African markets it operates its business, before re-applying for the banking licence in Botswana.

In 2012, Bank of Botswana declined Letshego’s banking licence application for reasons, which the microlender says, were not explained.

Letshego has already acquired banking licences in Mozambique, a deposit-taking licence in Rwanda, and is in the process of acquiring a banking licence in Namibia.

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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