Letshego Financial Services Botswana
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Letshego Financial Services Botswana (LFSB), also Letshego Botswana, is a
microfinance Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings ...
financial institution in
Botswana Botswana (, ), officially the Republic of Botswana ( tn, Lefatshe la Botswana, label=Setswana, ), is a landlocked country in Southern Africa. Botswana is topographically flat, with approximately 70 percent of its territory being the Kalahar ...
. It is a 100% subsidiary of
Letshego Holdings Limited Letshego Holdings Limited is a microfinance Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the p ...
, a holding company, with subsidiaries in over 10 African countries and whose stock is listed on the
Botswana Stock Exchange The Botswana Stock Exchange (BSE) is a stock exchange located in Gaborone, Botswana. The Botswana share market was established in 1989 and became the Botswana Stock Exchange in 1994. It is governed by thBotswana Stock Exchange Act The BSE has 36 ...
. The headquarters of the institution are located in
Gaborone Gaborone ( , , ) is the capital and largest city of Botswana with a population of 246,325 based on the 2022 census, about 10% of the total population of Botswana. Its agglomeration is home to 421,907 inhabitants at the 2011 census. Gaboron ...
, Botswana's capital and largest city. The company maintains about a dozen branches in the country's major urban centers.


History

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. In 2002, the company was listed on the BSE, through a successful
IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
. The funds from this IPO were utihttps://www.letshego.com/letshego-takes-over-afb-ghana-plclized to expand the group regionally. In 2008, the company adopted the Letshego brand as its official name.


Overview

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.


See also

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List of banks in Botswana This is a list of commercial banks in Botswana # Absa Bank Botswana # Access Bank Botswana # Bank Gaborone Limited # Bank of Baroda (Botswana) Limited # First Capital Bank Limited # First National Bank of Botswana Limited # Stanbic Bank Bots ...
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Economy of Botswana The economy of Botswana is currently one of the world's fastest growing economies, averaging about 5% per annum over the past decade. Growth in private sector employment averaged about 10% per annum during the first 30 years of the country's inde ...
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List of companies of Botswana Botswana is a landlocked country located in Southern Africa. A mid-sized country of just over 2 million people, Botswana is one of the most sparsely populated nations in the world. Around 10 percent of the population lives in the capital and la ...


References

{{reflist Financial services companies established in 1998 1998 establishments in Botswana Economy of Botswana