Letshego granted banking licence in Namibia

Letshego has had a presence in Namibia for over 14 years through its micro-lending institution, Letshego Financial Services Namibia. Letshego Namibia has been dedicated to embracing financial inclusion through helping over 55,000 customers, including the rural and under-served populations in Namibia with meeting their housing, health, education and business needs. Through this, Letshego aims to drive socio-economic development across its African footprint.

The approval to commence banking operations for Letshego Namibia, granted by the Bank of Namibia, will allow the company to expand its range of simple, appropriate and affordable solutions. Further, deposit-taking capability will enable Letshego Namibia to broaden its inclusive finance agenda to target the under-banked and under-served in the informal sector using service delivery platforms that allow access anytime, anywhere.