pressug.com News 24 7
Related Articles
Viewers: 90,006
By Spy Uganda
Letshego Africa Holdings Limited has signed binding agreements to sell its subsidiaries in Uganda, Ghana, Tanzania, Nigeria, and Rwanda to Dubai-based Axian Digital Venture Holdings and Management Limited, marking a major strategic shift in its African operations.
The transaction, announced Monday, involves the sale of 100 percent of Letshego’s issued share capital in the five markets as part of a broader portfolio optimisation plan aimed at refocusing on its core Southern African business.
Group Chief Executive Officer Reinette van der Merwe described the deal as a milestone in simplifying the group’s structure and unlocking long-term value.
“This transaction allows us to focus on markets where we have the greatest scale and the most compelling opportunities for sustainable growth,” van der Merwe said. “By streamlining our portfolio, we expect to enhance capital efficiency and strengthen our balance sheet.”
The move signals a decisive retreat from parts of East and West Africa as the Botswana-headquartered lender doubles down on regions where it sees stronger competitive positioning and growth potential.
Axian, which operates across Africa’s digital banking and financial services space, said the acquisition aligns with its expansion strategy into high-growth markets. The company currently serves more than 24 million consumers and small businesses across the continent.
Chief Executive Officer Erwan Gelebart said the deal would accelerate the group’s ambitions to scale its footprint and deepen financial inclusion.
“This agreement represents an important step in expanding our financial services footprint across high-growth markets,” Gelebart said, noting that Axian plans to invest in digital and operational capabilities to drive innovation and growth in the acquired businesses.
In Uganda, where Letshego has operated for over two decades, the transition marks the end of a significant chapter while opening a new phase under Axian’s ownership.
Aijukwe Giles said the company remains committed to serving customers throughout the transition.
“This presents an opportunity to build on the strong foundations already established in Uganda while positioning the business for greater efficiency, innovation, and long-term growth,” he said.
Letshego officials emphasised that operations across all affected markets will continue as normal during the transition period, with no immediate disruption expected for customers or employees.
The transaction is also expected to strengthen Letshego’s regulatory capital position and liquidity, while sharpening its focus on deposit-led funding and short-term credit solutions in its remaining markets.
Headquartered and listed in Botswana, Letshego operates in 11 sub-Saharan African countries, serving more than 4.5 million customers. The sale, once completed, will significantly reduce its geographic footprint as it approaches nearly three decades of operations on the continent.
The deal remains subject to regulatory approvals and stock exchange requirements in the respective markets. Once finalised, it will hand Axian a ready-made platform in five key African economies, further intensifying competition in the region’s fast-evolving financial services sector.
, https://www.spyuganda.com/hit-hard-letshego-to-exit-uganda-four-other-countries-in-strategic-sale-to-axian/
