Letshego Financial Services Botswana (LFSB), also Letshego Botswana, is a microfinance financial institution in Botswana. It is a 100% subsidiary of Letshego Holdings Limited, a holding company, with subsidiaries in over 10 African countries and whose stock is listed on the Botswana Stock Exchange.[2] The headquarters of the institution are located in Gaborone, Botswana's capital and largest city. The company maintains about a dozen branches in the country's major urban centers.[3]
| Company type | Subsidiary |
|---|---|
| Industry | Financial services |
| Founded | 1998 |
| Headquarters | Gaborone, Botswana |
Key people | Frederick Mmelesi (CEO)[1] |
| Products | Loans |
| Total assets | BWP 1.5 billion (UDS 150 million) |
| Parent | Letshego Holdings Limited |
| Website | www |
History
editThe institution began operations in March 1998, as Micro Provident Botswana Limited. At that time, the MFI focused on providing unsecured loans to fully employed clients.[4] In 2002, the company was listed on the BSE, through a successful IPO. The funds from this IPO were utihttps://www.letshego.com/letshego-takes-over-afb-ghana-plclized to expand the group regionally. In 2008, the company adopted the Letshego brand as its official name.[4]
Overview
editLFSB is a member of the Letshego Group and in 2015 contributed in excess of 40% to group assets and profits. In addition to lending to individuals who are formally employed in the Government, parastatal and private sectors, the company have started advancing loans to miners. A mortgage product is in development.[1][3]
See also
editReferences
edit- ^ a b Kabelo, Adamson (10 August 2015). "Letshego shifts gears". The Patriot (Botswana). Gaborone. Retrieved 14 August 2016.
- ^ Keabetswe, Newel (21 April 2016). "Letshego leads BSE liquidity in 2016 Q1". Botswana Business Weekly. Gaborone. Retrieved 14 August 2016.
- ^ a b Letshego Botswana (14 August 2016). "Letshego Financial Services Botswana: About Us". Gaborone. Retrieved 14 August 2016.
- ^ a b LHL (26 July 2016). "Letshego Looks Back at the Last 18 years". Gaborone: Letshego Holdings Limited (LHL). Retrieved 14 August 2016.