Letshego Bank Namibia
Bank of Namibia
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Letshego Bank Namibia is a commercial bank in Namibia. It is licensed by the Bank of Namibia, the central bank and national banking regulator.[1]
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 2002 |
| Headquarters | Windhoek, Namibia |
Key people | Ester Kali (CEO) |
| Products | Loans, Transaction accounts, Savings, Investments, Debit Cards |
| Parent | Letshego Holdings Limited |
| Website | www |
History
The institution was established in 2002 as Edu Loan Namibia. In August 2008, Letshego Holdings Limited (LHL), a Botswana Stock Exchange (BSE) listed entity, acquired majority shareholding in Edu Loan. The company re-branded to Letshego Financial Services Namibia, to reflect its shareholding. In July 2014, Letshego Namibia was awarded a provisional banking license, which allowed them to make salary loans, with installment loan payments deducted directly from the borrower's paycheck by the employer.[2] In July 2016, the bank was granted a full unrestricted banking licence.[3]
Location
The headquarters of the bank are located at 18 Schwerinsburg Street, in Windhoek, the capital and largest city in Namibia. The bank maintains a total of 15 branches in various urban centers in the country, as at August 2016.[4]
Ownership
Letshego Bank Namibia is a 100 percent subsidiary of Letshego Holdings Namibia Limited (LHN). The shares of the stock of Letshego Holdings Namibia Limited are traded on the NSX, under the symbol: LNH. As at December 2022, the shareholding in the group's stock was as depicted in the table below:[5]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Letshego Holdings Limited | 78.46 |
| 2 | Kumwe Investment Holdings Limited | 12.00 |
| 3 | Other Local & International Investors | 9.54 |
| Total | 100.00 |