Letshego Financial Services Lesotho Limited (“Letshego Lesotho”) has announced its partnership with Econet Telecom Lesotho (“Econet”) to extend their national footprint and reach in Lesotho to simple, accessible and appropriate financial solutions, in line with its commitment to improve the lives of Basotho, wherever they may be located.
Through this partnership, Letshego Lesotho Agents will initially be located in 3 of Econet’s busiest shops across Maseru, enabling new and existing customers to apply for new loans or facilitate the repayment of existing loans. The initial 3 Econet shops where one can find a Letshego agent in Maseru are ‘Bus Stop’, ‘Pioneer’ and ‘LNDC’. Letshego Agents will then expand into another 7 Econet shops next year.
Econet’s Chief Executive Officer, Leon de Fleuriot, reiterated, “Letshego has a well-established track record across the African continent, delivering useful financial solutions as well as demonstrating strict adherence to all local and regional financial laws and regulation. As such, Letshego are ideal partners in bringing added value to Econet’s existing and new customers, and we look forward to building on and extending the benefits of our partnership going forward.”
Currently, Econet has 16 branches across all Lesotho districts. As one of Lesotho’s leading mobile service providers, Econet is the first telecommunications company to bring Basotho EcoCash mobile money, EcoSure insurance and airtime transfer in mobile technology.
Speaking on the partnership, Yande Sikazwe-Mothae, Letshego Lesotho’s CEO commented, “In partnering with Econet, Letshego can bring more financial solutions to benefit more Basotho, more efficiently. Inclusive Finance remains a key priority for Letshego across all 11 the markets where Letshego operates across Africa – Lesotho is no different. We remain committed to improving the lives of individuals, and working with like-minded institutions like Econet, who share our philosophy in making a difference.”
Letshego Lesotho remains committed to extending the reach of simple and appropriate financial solutions to individuals and small and micro entrepreneurs, in both the private and public sectors. Letshego Holdings Limited (“Letshego Group”) has been operating in Africa for almost 20 years, and currently owns 95% of Letshego Lesotho. The Letshego Group is listed on the Botswana Stock Exchange.
About Econet Lesotho
Econet Telecom Lesotho came into being following the merger between a fixed network provider, Telecom Lesotho and a mobile network operator, Econet Ezi ~ Cel Lesotho in April 2008. Econet became a 70% majority shareholder when Eskom Enterprises (Pty) Limited sold its shareswhile the Government of Lesotho remained with 30%. The merger of the two companies allowed ETL to provide both fixed and mobile services under one license. The main benefit of this merger is that ETL is now able to offer customers total, converged communications solutions for fixed and mobile voice, as well as internet and data needs. The merger has also enabled ETL to improve customer satisfaction by offering the latest services at competitive rates, and to attract new subscribers with innovative product offerings