Letshego lists on NSX

10 Aug 2017 18:10pm
WINDHOEK, 10 AUG (NAMPA) - Letshego Holdings Namibia (LHN) has listed under the primary listing on the Namibian Stock Exchange (NSX).
A media release issued on Thursday says the company will be offering its shares for sale to Namibians through a planned initial public offering, “so they could become a part of Letshego’s history of improving life”.
“LHN’s (Letshego) purpose is to provide simple, appropriate and accessible solutions to the financially under-served and excluded in a sustainable manner, including but not limited to Government employees,” it reads.
Letshego Namibia opened its doors in 2002 as Edu Loan Namibia, providing consumer and micro-lending services. In August 2008, Letshego Holdings Limited, a Botswana Stock Exchange-listed entity, acquired 100 per cent of the company, soon after which the company re-branded to Letshego Financial Services Namibia.
Letshego added that the public offering of its shares will be the first of its kind on the NSX.
Letshego’s Chief Executive Officer Ester Kali believes that for the company to be financially inclusive, it should offer Namibians the opportunity to be part of its growth.
Partners, customers and wider stakeholders of Letshego have an opportunity to own shares in the business.
“Also, as we grow so shall ordinary Namibians’ wealth and this is what empowerment is all about, as Letshego is now becoming our Letshego,” Kali noted.
NSX Information Officer Johene Saal told Nampa in an interview that Letshego will be the ninth company to be listed on the local market.
A total of 35 companies have so far been listed on the dual listing.
These companies include mainly mining companies and South African and Mauritian companies.