Saturday, October 24, 2020

Letshego welcomes new Chairman into its Board

Enos Banda, A South African born entrepreneur replaces UK national John Burbidge, as Letshego’s Group Chairman, a position which the Pan African financial services outfit says came into effect on November 1 2016. 

 “As part of its commitment to upholding strong corporate governance, Letshego continues to invest a significant amount of time and resources to bring its board, committees and governance structures in line with world best practice. The Group provides effective leadership in order to strengthen its corporate governance and to ensure that it is a responsible corporate citizen,” says Letshego from the statement it released on Monday announcing the new appointment. 

Letshego shared Banda’s colorful resume describing him to be an investment banker by background having served as the regional head of investment and corporate banking for the African operations of Credit Suisse and HSBC. The financial outfit highlighted that Banda founded a Gauteng-based fund, Freetel Fund Management, and has practiced law in both South Africa and the USA. He is said to have advised governments as well as domestic and international private entities on transactions related to energy, telecommunications, and water-and-logistics infrastructure. In terms of Board and governance Banda is regarded to have vast experience in both the public and private sector. 

“He is the former Chairman of Gold Reef Resorts Ltd (merged with Tsogo Sun) and former Chairman of Budget and Audit Committees of Norilsk Nickel MMC, the LSE listed Resources Company. Currently he serves as a Co-Chairman at South African Chamber of Commerce in America,” says Letshego. 

John Burbidge was appointed to the Board in 2002 as an Independent Non-Executive Director and later assumed the Group Chairman position in 2012. Prior to Burbidge Cuthbert Moshe Lekaukau held the position. Burbidge has seen the financial outfit through an aggressive expansion drive now boasting a ten country presence over Southern, West and East Africa. The company also introduced deposit taking services currently sitting with five deposit taking licenses in addition to its core business of consumer lending. Burbidge’s guidance has also seen Letshego gain prominence in the area of financial inclusion which it continues to drive. It focuses in that regard on lending projects in Agriculture, Education and Environmental supply chains maintaining a low risk approach as a way of ensuring sustainable commercial returns.

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