Letshego granted full banking licence

The Bank of Namibia (BoN) has announced its approval of a banking licence for the country’s newest entry to its banking sector, Letshego Bank Namibia Limited.
In a statement issued to the media on Wednesday, the central bank’s director for strategic communication and financial sector development, Ndangi Katoma, said the authorisation licence was effective as of yesterday, 21 July 2016.
“The public if further notified that Letshego Bank Namibia Limited is now permitted to engage in banking activities with any person in Namibia, especially soliciting deposits from the general public,” Katoma said.
“The Bank of Namibia congratulates the shareholders and executive management team of Letshego Bank Namibia Ltd, and extends best wishes to them on their future endeavours in the banking sector.”
Letshego originally opened its doors in Namibia in 2002, as Edu Loan Namibia, before rebranding to Letshego Financial Services Namibia in 2008, after 100% acquisition by the Botswana-headquartered Letshego Holdings Limited (LHL).

STAFF REPORTER