Letshego Financial Services Botswana

A microfinance financial institution in Botswana.

Letshego Financial Services LimitedCompany type| Subsidiary

|

Industry| Financial services
Founded| 1998 (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.letshego.com/country/botswana/

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]

## History

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The 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

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LFSB 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

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* List of banks in Botswana
* Economy of Botswana
* List of companies of Botswana

## References

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1. ^ a b Kabelo, Adamson (10 August 2015). "Letshego shifts gears". The Patriot (Botswana). Gaborone. Retrieved 14 August 2016.
2. ^ Keabetswe, Newel (21 April 2016). "Letshego leads BSE liquidity in 2016 Q1". Botswana Business Weekly. Gaborone. Retrieved 14 August 2016.
3. ^ a b Letshego Botswana (14 August 2016). "Letshego Financial Services Botswana: About Us". Gaborone. Retrieved 14 August 2016.
4. ^ a b LHL (26 July 2016). "Letshego Looks Back at the Last 18 years". Gaborone: Letshego Holdings Limited (LHL). Retrieved 14 August 2016.