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Letshego records over 52 000 borrowers

07/08/2018
by Rodney Pienaar
Business

Letshego Namibia has recorded over 52 000 borrowers and 116 depositors at the end of 2017 financial year.

Consumer lending through a deduction at source model remains Letshego’s core business and it continues to be the leader in the market, chief executive officer Ester Kali stated.

“We currently retain the dominant market share for micro-loans in Namibia through our deduction at source solution. This enables us to advance our inclusive Namibian agenda nationwide by providing access to those who are financially underserved. Another highlight in the year under was Letshego Namibia’s successful listing on the NSX on 28 September 2017, a significant milestone in laying our foundation and building our legacy in Namibia,” she says.

She adds that a standardised governance and compliance framework has been implemented to ensure that Letshego Namibia is aligned to international best practices, allowing it to provide a more comprehensive set of customer solutions.

Kali also says that Letshego Namibia adopts a customer centric change culture as customer experience becomes increasingly important in the industry.

“Our culture helps to gain valuable insights and offers rich experiences by anticipating customer needs and knowing how to solve them. We endeavor to deliver this same level of customer experience by identifying opportunities that would increase market share through enhanced marketing campaigns and innovative consumer solutions,” she says.

 Meanwhile Letshego last year launched the LetsGo initiative, a low fee solution designed to encourage a greater number of Namibians to become part of the banking sector where funds deposited are payable on demand either in person or via direct debit or electronic fund transfer.