Letshego Bank Namibia

Last updated
Letshego Bank Namibia
Type Private
Industry Financial services
Founded2002 (2002)
Headquarters Windhoek, Namibia
Key people
Ester Kali (CEO)
Products Loans, Transaction accounts, Savings, Investments, Debit Cards
Parent Letshego Holdings Limited
Website www.letshego.com/country/namibia/

Letshego Bank Namibia is a commercial bank in Namibia. It is licensed by the Bank of Namibia, the central bank and national banking regulator. [1]

Contents

History

The institution was established in 2002 as Edu Loan Namibia. In August 2008, Letshego Holdings Limited (LHL), a Botswana Stock Exchange (BSE) listed entity, acquired majority shareholding in Edu Loan. The company re-branded to Letshego Financial Services Namibia, to reflect its shareholding. In July 2014, Letshego Namibia was awarded a provisional banking license, which allowed them to make salary loans , with installment loan payments deducted directly from the borrower's paycheck by the employer. [2] In July 2016, the bank was granted a full unrestricted banking licence. [3]

Location

The headquarters of the bank are located at 18 Schwerinsburg Street, in Windhoek, the capital and largest city in Namibia. The bank maintains a total of 15 branches in various urban centers in the country, as at August 2016. [4]

Ownership

Letshego Bank Namibia is a 100 percent subsidiary of Letshego Holdings Namibia Limited (LHN). The shares of the stock of Letshego Holdings Namibia Limited are traded on the NSX, under the symbol: LNH. As at December 2022, the shareholding in the group's stock was as depicted in the table below: [5]

Letshego Holdings Namibia Limited Stock Ownership
RankName of OwnerPercentage Ownership
1Letshego Holdings Limited78.46
2Kumwe Investment Holdings Limited12.00
3Other Local & International Investors9.54
Total100.00

See also

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References

  1. ↑ Bank of Namibia (11 August 2016). "Licensed Commercial Banks In Namibia". Windhoek: Bank of Namibia . Retrieved 11 August 2016.
  2. ↑ LBN (12 August 2016). "Letshego Bank Namibia: About Us". Windhoek: Letshego Bank Namibia (LBN). Retrieved 12 August 2016.
  3. ↑ Ramokopelwa, Koobonye (21 July 2016). "Letshego Namibia granted banking license". Botswana Guardian . Gaborone. Retrieved 12 August 2016.
  4. ↑ LBN (12 August 2016). "Branch List of Letshego Bank Namibia". Windhoek: Letshego Bank Namibia (LBN). Retrieved 12 August 2016.
  5. ↑ "Letshego Namibia Holdings Integrated Annual Report 2022" (PDF). 31 December 2022. Retrieved 4 November 2023.

22°34′19″S17°05′23″E / 22.57194°S 17.08972°E / -22.57194; 17.08972

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