Letshego acquires microfinance interest

In Letshego's second inorganic growth action, we cemented our two thirds stake acquired in 2012 with a final transaction to acquire 100% of Micro Africa Limited (MAL). Re-branded to Letshego across, we now have microfinance businesses in Kenya, Rwanda and Uganda. MAL had smaller interests in South Sudan and Tanzania, both of which were disposed of due to limited business prospects. We integrated the Uganda operations into our existing Ugandan consumer finance business, and have been investing in these growing microfinance portfolios to improve operating models, create efficiencies, and drive sustainable market penetration.