Letshego’s IPO to include financially excluded

11 Aug 2017
Windhoek-Letshego Holdings Namibia (LHN), with its strong financial inclusion approach, has confirmed plans for another empowerment opportunity for Namibia. LHN will be offering its shares for sale through a planned Initial Public Offering (IPO), enabling Namibians to be part of Letshego Namibia.
 
Letshego says its 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. In line with this, the planned IPO will include people who are typically financially excluded, and are a key part of Letshego’s financial inclusion strategy.
 
Letshego Namibia Holdings CEO Ester Kali said: “We believe that to be totally financially inclusive, we should offer Namibians the opportunity to be part of our growth. Through the planned IPO, partners, customers and wider stakeholders of Letshego have an opportunity to own shares in this business they have come to know so well. As we grow, so shall ordinary Namibians’ wealth. We believe this what empowerment is all about, as Letshego is now becoming our Letshego.”
 
The planned LHN IPO will be a first of its kind on the Namibian Stock Exchange (NSX), as the Public Offer will prioritise educating members of the general public, giving preference to Namibian residents. This is with a primary focus on Previously Disadvantaged Namibians (PDNs).
 
“We will be calling our planned IPO ‘Ekwafo Letu’, which means ‘Our Support’. This is in recognition of what Letshego at its core stands for: to provide support. Support to those who are typically under-served by traditional financial institutions.
 
“Our Letshego story is about empowerment, via the solutions we provide, and now via Ekwafo Letu,” said Kali. She added that LHN continues to engage all key stakeholders and regulatory authorities ahead of this historic IPO.
 
By: Staff Reporter