In August 2021, OeEB signed a USD 15 million loan facility agreement with Letshego Group, a pan-African financial institution with focus on inclusive finance. The funds will be used to expand the micro and small enterprise („MSE“) loan portfolio of the Group as well as for educational loans and affordable housing projects.
|Sector||Financial sector / Microfinance / SME|
|Project volume||USD 15 million|
|Project partner(s)||Letshego Holdings Limited|
The Letshego Group (Letshego Holdings Limited) is a proudly African retail financial services institution, established in Botswana over 23 years ago. Today Letshego is active in 11 sub-Saharan African countries and supports more than 4 million customers with simple, accessible and appropriate financial solutions. The Group’s products include borrowing, savings, payment and insurance solutions structured to empower underserved populations with sustainable outcomes. Letshego is listed on the Botswana Stock Exchange, with an additional subsidiary listing on the Namibia Stock Exchange.
The bulk of Letshego’s offering is payroll lending to employees in the public and private sector, supported by world-class digitised credit evaluation platforms. In recent years, the Group has progressed it’s strategy to diversify its offering, expanding solutions to support Micro and Small Entrepreneurs (MSEs), as well as increasing customer choice in specialised products that include Affordable Housing, Education and Insurance.
The loan provided by OeEB supports Letshego in achieving its purpose of empowering underserved customer segments and improving lives across the communities in which they operate. At least 30% of the loan facility will be used for financing female clients and MSEs owned or led by women as defined by the 2X criteria.
For more information click on www.letshegoinvestor.com