STAFF WRITER
Letshego Namibia says its operations will remain unchanged despite Letshego Africa Holdings Limited moving to sell its East and West African subsidiaries as part of a major restructuring plan.
The group on Monday announced it has entered into binding sale and purchase agreements with Axian Digital Venture Holdings and Management Limited, headquartered in Dubai in the United Arab Emirates, for the proposed sale of 100% of several subsidiaries. These include Letshego Ghana Savings and Loans PLC, Letshego Faidika Bank Tanzania Limited, Letshego Microfinance Bank Nigeria Limited, Letshego Rwanda PLC and Letshego Uganda Limited.
Letshego stressed that the transaction has no impact on its Namibian business.
“This transaction does not have any impact on Letshego’s Namibian operations. Letshego Namibia continues to operate as normal, and our commitment to serving our Namibian customers, employees and partners remains unchanged,” the group said.
The company said the planned divestment forms part of its portfolio optimisation strategy aimed at improving capital efficiency and sharpening focus on its core Southern African markets.
Group Chief Executive Officer Reinette van der Merwe said the move is intended to strengthen the balance sheet and improve long-term shareholder value.
“This proposed transaction marks an important milestone in the execution of our strategy to simplify the Group and focus on markets where we have the greatest scale, stronger competitive positioning and the most compelling opportunities for sustainable growth,” she said.
Van der Merwe added that streamlining the portfolio would allow Letshego to partner with a stronger, more aligned business capable of supporting the next phase of growth for the affected subsidiaries.
Letshego Holdings Namibia and Letshego Bank Namibia Chief Executive Officer Ester Kali also reassured customers that local operations remain unaffected.
“For Namibia, it is business as usual – our operations are unaffected, and our full attention remains on delivering accessible financial solutions to our customers and growing our contribution to Namibia’s financial inclusion agenda,” she said.
Meanwhile, Axian Digital Venture Holdings Chief Executive Officer Erwan Gelebart said the agreement aligns with Axian’s strategy to expand its financial services footprint in high-growth markets.
“This agreement represents an important step in advancing Axian’s long-term strategy to expand our financial services footprint across high-growth markets,” he said.
He added that Axian aims to support the subsidiaries with operational and digital investment to drive growth and innovation, pending regulatory approval.
Letshego said the transaction is expected to strengthen its remaining portfolio by improving capital allocation, liquidity, and overall balance sheet resilience.
Letshego Africa Holdings is a Botswana-based multinational financial services group operating across 11 Sub-Saharan African markets, focused on providing inclusive finance to underserved populations.
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