Encourage borrowing for the right needs− Letshego

Jessica BrownLETSHEGO Namibia has announced its commitment to become an inclusive finance provider to the Namibian nation. The company is a unit of the Botswana based Letshego Holdings.

Speaking at their refreshed brand launch in Windhoek on Friday, Mythri SambasivanGeorge, the group’s head of corporate affairs, stated that their new look and logo symbolises the role the group intends to play by investing in people, communities and the regulatory environment.

Stressing that their intentions are in line with the Harambee Prosperity Plan, CEO of Letshego Namibia Ester Kali stated that the group is addressing poverty through wealth creation, by helping to grow the economy in a sustainable way.

A vital part of this, according to SambasivanGeorge, is to encourage borrowing for the right needs. Areas such as housing, education, health and business investment were highlighted by SambasivanGeorge, areas that lead to genuine, longterm development.

SambasivanGeorge added that part of the Letshego plan is to lobby for better financial regulations, and to “lead the charge” in this area to coincide with the company’s vision for dignity and inclusion in the sector.

Letshego currently has over 55 000 customers in Namibia with15 branches nationwide. On the greater African continent it has in excess of 300 000 customers.

The brand launch seeks to streamline the company’s products and services and reinforce their role as a helping hand to those who were historically persona non grata to the finance world. In an attempt to conveniently finance middle and lower income earners they are embracing mobile technologies as part of their ‘new look, new solutions, new possibilities’ rebrand.

Letshego was awarded a provisional licence by the central bank in 2014 and sees Namibia as a ‘key territory’ in its expansion progamme. The banking unit operates as Letshego Bank Namibia.

Before getting a banking licence, Letshego already had micro finance operations in Namibia.

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