Letshego's retail banking project takes shape

Letshego which is the country's most successful micro-lender with a loan book of over P3 billion, announced plans to venture into fully-fledged commercial banking as a way of diversifying income streams.

In an interview with Business Week, finance director Colm Patterson said that the selection of Tata Consultancy Services' BaNCS suite as the co-banking system will not boost their already announced plans to start up a commercial but is also a shot in the arm for the micro-lending business.