Letshego's’ Crouse says company is here to stay

27 Sep 2018

Amongst the things he had to do – as he kick started his first year of the five years at a new job, Smit Crouse - Letshego Holding’s new Managing Director had to sign a new lease agreement for the company.

The agreement, for the extension of occupation of the company’s head office in the city centre signals the group’s commitment to remain in Botswana soil, Crouse said.

Crouse made the remarks at a press conference in the capital Gaborone on Monday where he was presented as the “new top man” of the financial service group to local financial journalists.

Crouse replaces Letshego’s former MD – Chris Low who left the company under cloudy circumstances early last month.

Before Low’s departure, media reports had indicated that the pan-African financial services group wanted to relocate its head offices to neighbouring South Africa. The new MD has however disputed the reports insisting that “Letshego is a local brand and therefore does not have plans to relocate out of Botswana to South Africa or any other country”

Crouse also told journalists that his key priorities in driving the company strategy will be achieved through transparency leadership, listening to the views of the stakeholders as well as supporting the entire members of staff.

 

Meanwhile Crouse said that one of his dreams is to “see through” a successful banking license application for the group in Botswana. As such, the former managing executive for Nedbank (South Africa)’s African investments, alliances and strategy division said that he is keen to have another discussion with the central bank – Bank of Botswana.

In the past the group made an attempt to obtain a banking license from Bank of Botswana which hit a snag for reasons that were not made public by the two parties.

Letshego Holdings Limited was incorporated in 1998, is headquartered in Gaborone and has been publicly listed on the Botswana Stock Exchange since 2002. Today it is one of Botswana’s largest indigenous groups, with a market capitalisation of approximately P4 billion, placing it in the top 40 listed sub-Sahara African companies (except for South Africa), with an agenda focused on inclusive finance.