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 |
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]
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 uti https://www.letshego.com/letshego-takes-over-afb-ghana-plc lized to expand the group regionally. In 2008, the company adopted the Letshego brand as its official name. [4]
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]
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