18/09/2025
Letshego Namibia Strengthens Its Future Through Diversification Beyond Deductions at Source Loans
In response to a directive from the Ministry of Finance, Letshego Holdings Namibia and its subsidiaries, Letshego Bank Namibia and Letshego Micro Financial Services Namibia, have suspended all new Deduction at Source (DAS) loans for government employees, effective immediately. Moving forward, all new micro-lending loans will be issued through debit order arrangements and will be subject to a credit affordability assessment, ensuring responsible lending and continued financial support for our customers.
While this marks a significant shift in the business landscape, Letshego has been preparing for this transition. Since 2016, the company has strategically diversified its product offering beyond micro-lending to include banking services. This diversification strategy has enabled Letshego to expand its product model beyond Deduction at Source lending, introducing Personal Loans with repayments via Debit Order, Home Loans, Transactional Accounts, and Savings Products. The impact of Letshego' s diversification strategy is evident. As of June 2025, this growth is reflected in its portfolio, with the Deposits book (Savings and Transactional Accounts) reaching a total value of N$1,188,480,000, and Home Loans amounting to N$199,684,280.59.
"Our long-term diversification strategy is proving its value. It has strengthened our business and enhanced resilience, allowing us to continue delivering value to our shareholders. Letshego remains well-positioned to serve our customers and communities as we adapt to these changes. We are committed to promoting financial inclusion and maintaining operational stability," said Dr Ester Kali, Chief Executive Officer of Letshego Holdings Namibia.
Amidst the changes, Letshego Holdings Namibia and its subsidiaries, Letshego Bank Namibia and Letshego Micro Finance Services Namibia, continue to support customers in need of banking services and personal or micro loans. These loans will now be facilitated through debit order arrangements, ensuring continued access to financial support.
