Letshego Bank Namibia
TypePrivate
IndustryFinancial services
Founded2002 (2002)
HeadquartersWindhoek, Namibia
Key people
Ester Kali (CEO)
ProductsLoans, Transaction accounts, Savings, Investments, Debit Cards
ParentLetshego Holdings Limited
Websitewww.letshego.com/country/namibia/

Letshego Bank Namibia is a commercial bank in Namibia. It is licensed by the Bank of Namibia, the central bank and national banking regulator.[1]

History

The institution was established in 2002 as Edu Loan Namibia. In August 2008, Letshego Holdings Limited (LHL), a Botswana Stock Exchange (BSE) listed entity, acquired majority shareholding in Edu Loan. The company re-branded to Letshego Financial Services Namibia, to reflect its shareholding. In July 2014, Letshego Namibia was awarded a provisional banking license, which allowed them to make salary loans, with installment loan payments deducted directly from the borrower's paycheck by the employer.[2] In July 2016, the bank was granted a full unrestricted banking licence.[3]

Location

The headquarters of the bank are located at 18 Schwerinsburg Street, in Windhoek, the capital and largest city in Namibia. The bank maintains a total of 15 branches in various urban centers in the country, as at August 2016.[4]

Ownership

Letshego Bank Namibia is a 100 percent subsidiary of Letshego Holdings Namibia Limited (LHN). The shares of the stock of Letshego Holdings Namibia Limited are traded on the NSX, under the symbol: LNH. As at December 2022, the shareholding in the group's stock was as depicted in the table below:[5]

Letshego Holdings Namibia Limited Stock Ownership
Rank Name of Owner Percentage Ownership
1 Letshego Holdings Limited 78.46
2 Kumwe Investment Holdings Limited 12.00
3 Other Local & International Investors 9.54
Total 100.00

See also

References

  1. ↑ Bank of Namibia (11 August 2016). "Licensed Commercial Banks In Namibia". Windhoek: Bank of Namibia. Retrieved 11 August 2016.
  2. ↑ LBN (12 August 2016). "Letshego Bank Namibia: About Us". Windhoek: Letshego Bank Namibia (LBN). Retrieved 12 August 2016.
  3. ↑ Ramokopelwa, Koobonye (21 July 2016). "Letshego Namibia granted banking license". Botswana Guardian. Gaborone. Retrieved 12 August 2016.
  4. ↑ LBN (12 August 2016). "Branch List of Letshego Bank Namibia". Windhoek: Letshego Bank Namibia (LBN). Retrieved 12 August 2016.
  5. ↑ "Letshego Namibia Holdings Integrated Annual Report 2022" (PDF). 31 December 2022. Retrieved 4 November 2023.

22°34′19″S 17°05′23″E / 22.57194°S 17.08972°E / -22.57194; 17.08972

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