Letshego to exit Ghana, other African markets as Axian moves to acquire five subsidiaries
Letshego Africa Holdings Limited has entered into binding agreements to sell 100 per cent of its issued share capital in five East and West African subsidiaries, including Letshego Ghana Savings and Loans PLC, as part of a broader portfolio optimisation strategy aimed at sharpening the Group's focus on its core Southern African markets.
According to a press release issued on April 27, 2026, the Gaborone-based inclusive finance group has agreed to sell the subsidiaries to Axian Digital Venture Holdings and Management Limited, a Dubai-headquartered investment platform with a strong footprint in digital banking and financial services across Africa.
The proposed transaction includes Letshego Ghana Savings and Loans PLC, Letshego Faidika Bank Tanzania Limited, Letshego Microfinance Bank Nigeria Limited, Letshego Rwanda PLC Limited, and Letshego Uganda Limited.
Reinette van der Merwe, Group Chief Executive Officer of Letshego, described the proposed sale as an important milestone in executing the Group's strategy to simplify operations and concentrate on markets where it has the greatest scale and competitive positioning.
"This proposed transaction marks an important milestone in the execution of our strategy to simplify the Group and focus on markets where we have the greatest scale, stronger competitive positioning and the most compelling opportunities for sustainable growth," van der Merwe said.
She noted that streamlining the portfolio is expected to enhance capital efficiency, strengthen the balance sheet, and position Letshego to deliver improved returns and sustainable long-term value for shareholders.
Van der Merwe also expressed confidence that Axian is a strong and like-minded business with the financial capacity, complementary operational strengths, and market knowledge to support the continued growth of the subsidiaries, underscoring Axian's commitment to financial inclusion and Africa's development.
Erwan Gelebart, CEO of Axian Digital Venture Holding and Management Limited, described the agreement as an important step in advancing Axian's long-term strategy to expand its financial services footprint across high-growth markets.
Axian brings a strong track record in operating regulated financial institutions at scale and investing in digital and operational capabilities that support sustainable growth. The company currently serves more than 24 million consumers and small and medium-sized enterprises across Africa through its portfolio companies and strategic partnerships.
Gelebart expressed optimism about the proposed sale and looked forward to working with the teams in these businesses to continue serving customers, build on existing strengths, and accelerate the development of modern financial services across the affected markets.
Letshego confirmed that the proposed transaction is expected to benefit the remaining portfolio by strengthening the Group's regulatory capital position and capital allocation discipline, enhancing liquidity and balance sheet resilience, supporting return on equity over time, and enabling increased focus on the Group's deposit-led funding model, scaling short-term credit solutions, and expanding transactional and savings products.
The Group assured that all affected businesses will continue to operate as normal throughout the transaction process, with a focus on minimising disruption to customers, partners, or employees.
The transaction remains subject to regulatory approvals and applicable stock exchange requirements. Further details will be communicated in due course.