Letshego Rwanda to be acquired by Dubai-based firm

Letshego Rwanda Plc, a local microfinance bank, is set to be acquired by Axian Digital Venture Holdings and Management Limited, a Dubai-based financial services firm. This is part of Letshego Africa Holdings’ move to sell five of its eleven African subsidiaries across East and West Africa. Letshego Africa, a Botswana based group, announced that it entered a binding sale and purchase agreement with Axian to sell 100 per cent of the issued capital of its subsidiaries in Rwanda, Ghana, Nigeria, Tanzania, and Uganda. According to Reinette van der Merwe, Group Chief Executive Officer of Letshego, the proposed transaction is part of the strategy to “simplify the Group and focus on markets where we have the greatest scale, stronger competitive positioning and the most compelling opportunities for sustainable growth.” “By streamlining our portfolio, we expect to enhance capital efficiency, strengthen our balance sheet and position Letshego to deliver improved returns and sustainable long-term value for shareholders,” he said. The proposed sale will affect Letshego Ghana Savings and Loans PLC, Letshego Faidika Bank Tanzania Limited, Letshego Microfinance Bank Nigeria Limited, Letshego Rwanda PLC Limited, and Letshego Uganda Limited. Letshego Rwanda has been in operations since 2012. It currently serves four branches across Kigali, Muhanga in the Southern Province, and Musanze in the Northern Province. Letshego Rwanda’s operating income increased by 28.7 per cent to Rwf3.73 billion in 2025, driven mostly by net interest income which rose 27.4 per cent to Rwf3.62 billion. However, operating costs rose meaningfully. Total operating expenses increased by 22.2 per cent to Rwf2.2 billion. Administrative and general expenses were the main pressure point, rising 73.7 per cent to Rwf713 million.

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Letshego Rwanda to be acquired by Dubai-based firm