Group to give out loans for affordable housing

Baitshepi Sekgweng
LETSHEGO CEO: Bannalotlhe

As it cuts the cake on 25 years of existence, Letshego Financial Services has big things planned for 2024 as they look to increase their product offerings.

Keen to diversify its services from the usual personal loans, the financial-service provider is moving into areas of entrepreneurship development and providing loans for affordable housing through its ‘Ikagele and Itshetse’ product.

Speaking at a media briefing last Thursday, Letshego Financial Services Chief Executive Officer (CEO), Kgotso Bannalotlhe said they are intent on serving the broader needs of Batswana.

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“We have enhanced digital solutions where someone can apply for a loan digitally without having to come to a branch and within 24 hours it’s disbursed. We are the most convenient provider of consumer financial services and aim to make sure a person gets the money as soon as they need it. We are not only targeting salaried people, we look at people excluded or underserved in financial services, whether it’s too expensive or structural problem. We solve that problem by giving Batswana credit such that they improve themselves. We have done it with personal loans, now we are partnering with others to offer our customers affordable loans for houses from all scopes. In everything we do, we want to make credit available and do it conveniently,” he declared.

Bannalotlhe said helping Batswana build their own homes, when and wherever they desire, was an undertaking close to Letshego’s heart as they recognize the importance of home ownership.

As a result, they have gone an extra mile by eliminating professional costs and putting together relevant pre-approved plans which save applicant’s costs of an architect and a quantity surveyor.

“When you do it with the banks they will tell you that they can finance you only when you are building in Gaborone but home is where someone chooses to build their house, you don’t choose your home in a town or city. We finance Batswana to build homes of whatever quality that they seek for themselves. Our dream is to be become an all round consumer financial services company through our expanded offering that serves the needs of Batswana in every sphere, whether working, self employed,” added Bannalotlhe.

With its headquarters in Gaborone, Letshego boasts a presence in 11 African markets across the continent, Including: Namibia, Lesotho, Uganda, Eswatini, Tanzania, Mozambique, Kenya, Nigeria, Ghana and Rwanda.

In Botswana, Letshego has 15 branches and several satellite offices dotted around the country.

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