Letshego Bank Namibia is a commercial bank in
Namibia. It is licensed by the
Bank of Namibia, the central bank and national banking regulator.
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
A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis.
...
'', with installment loan payments deducted directly from the borrower's paycheck by the employer. In July 2016, the bank was granted a full unrestricted banking licence.
Location
The headquarters of the bank are located at 18
Schwerinsburg
Schwerinsburg (''Schwerin's castle'') is the biggest of three castles in Windhoek, Namibia. Today it is the private residence of the Italian ambassador in Namibia.
History
During the time of the construction of Alte Feste in 1890 the tower of ...
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.
Overview
LBN is 100 percent owned by ''Letshego Holdings Namibia'' (LHN). LHN is in turn owned by
Letshego Holdings Limited of
Botswana (85 percent) and ''Kumwe Investment Holdings'' of Namibia (15 percent). The majority owners, based in
Gaborone,
Botswana, have plans to sell at least 45 percent shareholding to local Namibian shareholders, over the four years 2016 to 2020.
See also
*
List of banks in Namibia
Licensed commercial banks in Namibia :
# Bank Windhoek Limited
# First National Bank Namibia Limited
# Nedbank Namibia Limited
# Standard Bank Namibia Limited
# Trustco Bank Namibia Limited
# Banco Atlantico
# Bank BIC Namibia Limited
# Le ...
References
External links
Website of Bank of Namibia
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Banks of Namibia
Economy of Namibia
Companies based in Windhoek
Banks established in 2002
Namibian companies established in 2002