Letshego considers buying its way to local banking licence

Under local laws, any deposit-taking institutions must apply for a banking licence, something which Letshego tried and failed to do in 2013 and 2018. A banking licence for Letshego in Botswana would reduce the costs of its funding, as it would fund these from deposits.

While it has secured deposit taking licences in many of the other countries it operates in, Letshego abandoned its last attempt in Botswana in December 2018 saying the application needed to be done “at the right time within our journey”.