Verdant Capital has secured approximately BWP 256 million (USD 25.6 million) in debt financing for Letshego to support its growth initiatives and enhance its financial service offerings across Africa.

Information on the Target

Letshego Holdings Limited, established in 1998, is a prominent pan-African inclusive financial institution operating across eleven markets in Southern, Eastern, and Western Africa. The organization is dedicated to delivering financial solutions aimed at underserved populations, thus fostering financial inclusion in the region. Letshego is publicly listed on the Botswana Stock Exchange, with a market capitalization nearing USD 400 million. As of December 2017, the company reported total assets of BWP 9.0 billion (approximately USD 875 million) and a loan book of BWP 7.8 billion (approximately USD 760 million).

Recently, Letshego has demonstrated significant growth and resilience in its operations, earning recognition from credit rating agencies, notably receiving a Ba3 rating with a stable outlook from Moody's in April 2018. This financial strength underlines its position as a leader in the financial services sector within Africa.

Industry Overview in Botswana

The financial services industry in Botswana has witnessed considerable transformation, characterized by an increase in digital financial solutions aimed at improving accessibility and affordability for citizens. The government has been proactiv