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
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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