Letshego Rwanda, a deposit-taking, regional micro-finance institution, has pledged to support the government’s financial inclusion agenda by continuing to finance critical sectors in the economy.
This emerged during the recent re-branding of the Micro-Finance institution at an event held at the Kigali Serena Hotel. The company finances sectors such as education, affordable housing, and agriculture as well as scaling financial inclusion by rolling out appropriate savings and payments solutions.
Letshego Rwanda’s Chief Executive Officer, Joel Uwizeye said that the micro-finance imperative was in line with the government’s ambition to improve the quality of life for ordinary citizens.
“We are committed to improving life for our fellow Rwandans beyond basic financial solutions. Further, we are committed to providing support – the very essence of what Letshego means and stands for – for our country’s development. This will see continued financing of education, affordable housing and agriculture supply chains, as well as simple and appropriate savings, payment and investment solutions - areas and opportunities we are passionate about,” he said.
In line with their pledge to improve nationals’ lives, the micro-finance institution has undergone a re-branding which saw them renew their motto to “Let’s Improve Life.”
Under the new brand, the institution also adopted digital developments that will see the firm have more impact in service delivery by providing access anytime, anywhere for customers.
Going forward, amongst the strategic areas of focus for the firm will be driving a stronger savings culture which includes providing solutions and skills development.
In an attempt to drive up the savings culture of Rwandans, Letshego has tailor-made products which include products that cater to family needs and aspirations in the short term as well as for longer term commitments, with savings and fixed deposit accounts earning interest of 6% and above.
“Simple, appropriate and affordable products that solve the needs of our customers and which contribute to productive, prosperous futures; this is what we strive to provide. Through responsible lending, we allow our customers to improve their lives through the ownership of productive assets, homes, and more. For us, this is about making a positive, lifelong impact in the lives of our fellow Rwandans. Together, we want to help build Africa’s success stories,” Uwizeye said.
To achieve the intended impact, the institution plans to maintain its long standing cooperation with local stakeholders to champion impactful change across its footprint.
The firm says it will engage key industry stakeholders such as its regulator, the National Bank of Rwanda, the Association of Micro-finance Institutions in Rwanda (AMIR), and the Private Sector Federation (PSF), amongst others, all of whom work to facilitate the financial inclusion agenda.
Mmadiofa Pilara the Head of Group Brand and Communications said that the new brand will ensure a consistent look and feel for all subsidiaries across the group. Further, with the enhanced services that mark Letshego’s transformation and brand journey, customers will be sure of an improved experience when interacting with the Letshego brand.
The Botswana based firm entered the Rwandan market in 2013 August after acquiring Micro Africa Limited, the mother company of Rwanda Micro-Finance which saw the former firm re-brand to Letshego Rwanda Limited.
However, despite being Botswana-headquartered, leadership at Letshego Rwanda are keen to play an active role in building a financially stable Rwanda through their inclusive solutions.
Tom Kocsis, Letshego Holdings Limited Group Head of East Africa and Microfinance said that they intend to focus on facilitating growth for customers and communities. “Delivering responsible solutions, financial success and improving lives together is our commitment in Rwanda and indeed in each of the ten markets we call home across Africa. This is further underpinned by our Group wide Strategic Social Investment focus towards improving the livelihoods, health and education of our communities,” Kocsis said.
Letshego has consumer, micro lending and deposit-taking subsidiaries across ten countries in Southern, East and now West Africa. Other than Rwanda, the institution has presence in: Botswana, Kenya, Lesotho, Mozambique, Namibia, Nigeria, Swaziland, Tanzania and Uganda.
It was listed on the Botswana Stock Exchange in 2002 and has a current market capitalisation of over USD 600 million placing it among the top 40 companies in sub-Saharan Africa excluding South Africa.
The firm has also greatly contributed to employment with over 2,300 employees of over 20 nationalities to serve a client base of over 300,000 borrowers and 100,000 depositors through over 250 access points.