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
Let’s fight GBV as a collective

Botswana for the longest time was known for her virulent peace with family being an enviable institution.As the media, we are also scared to be incessantly reporting on these bloody scenes where women are brutally murdered and worse, sometimes in front of their children and loved ones. Yes, we have reported cases where men were also brutally murdered by their loved ones, but such cases are a drop in the ocean.For the past two weeks, Botswana was...

Have a Story? Send Us a tip
arrow up