Letshego shelves plans to open bank in Botswana
Wednesday, April 30, 2014
Low addressing the media in Gaborone yesterday. PIC KEBOFHE MATHE
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.
That sounds like good news. But the report also warns that this may simply be because our digital economy is still young, not because we are safe. As more people shop, bank and pay online, criminals will follow.We Batswana do not need a report to tell us that danger is real. Many of us have heard of or fallen victim to KYC scams. A caller impersonates your bank or mobile money provider. They say they need to “verify” your account. They ask...