Wednesday, October 21, 2020

Letshego shifts focus to property investments and tourism sector

Africa’s leading financial inclusive Group, Letshego Holdings Limited says through its affordable and accessible financial solutions it is now expanding into the tourism sector, rolling out low cost housing as well as Micro and Small Marketing Enterprise (MSME) product.

Briefing the media on Monday, Letshego Financial Services Botswana Chief Executive Officer, Fred Mmelesi, said part of their strategy includes growing their non-government deduction at source transactions to allow for more people to access their services.

“We are expanding into the tourism sector to harness the potential of Botswana-born businesses towards economic diversification. We have developed a product that caters for tour guides and hotel staff,” he said.

Mmelesi further stated that they aim to roll out low cost housing to all sectors of the economy, adding that the Group is passionate about driving financial literacy programmes to cultivate a consumer culture of productive loan use which reduces dependency on governmental welfare programmes.

“The improving life campaign has been rolled out first in Swaziland as well as Namibia following their brand refreshes. Apart from rolling it out here in Botswana, Letshego is going to launch this campaign in the remaining 7 countries in our African footprint,” said Mmelesi.

He stated that they are in Botswana’s largest indigenous group, with a market capitalisation in excess of $500 million and an agenda focused on inclusive finance. He added that through their ten country presence across Southern, East and West Africa, they provide consumer lending, micro finance and deposit-taking solutions. 

Amongst other things, he revealed that they have assisted customers with access to low-Income Housing Loan product – for purchasing property including homes and multi-residential properties that can be used for generating income. He said such income changes families’ income status and transforms them into active participants in the development of the country’s landscape.

“With the level of high indebtedness especially among civil servants and blue-collar workers, we are passionate about driving financial literacy through customer and public education in order to build a culture of responsible borrowing,” he said.

Mmelesi is of the view that over the years, based on their market positioning, they have become the go-to partner for customers seeking financial solutions for productive means. 

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