Letshego to sale selected East and West African businesses to Axian

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Letshego Africa Holdings Limited is striking a binding sale and purchase agreement with Axian Digital Venture Holdings and Management Limited, headquartered in Dubai, UAE, for the proposed sale of 100% of the issued share capital in the following Letshego East and West Africa subsidiaries.

The proposed transaction represents a decisive step in the execution of Letshego’s previously communicated portfolio optimisation strategy, which is designed to strengthen capital efficiency and concentrate management focus on the Group’s core Southern African markets.

According to Reinette van der Merwe, Group Chief Executive Officer of Letshego, the proposed transaction marks an important milestone in the execution of their strategy to simplify the Group and focus on markets where they have the greatest scale, stronger competitive positioning and the most compelling opportunities for sustainable growth.

He added that by streamlining the portfolio, they expect to enhance capital efficiency, strengthen their balance sheet and position Letshego to deliver improved returns and sustainable long-term value for shareholders.

 “We believe Axian is a strong and like-minded business with the financial capacity, complementary operational strengths and market knowledge to support continued growth of these subsidiaries, underpinned by its commitment to financial inclusion and Africa’s development,” Merwe emphasised.

Aijukwe Giles, Chief Executive Officer of Letshego Uganda, meanwhile, highlighted that for over two decades, Letshego Uganda has remained committed to expanding access to inclusive financial solutions for individuals, entrepreneurs, and underserved communities across the country.

“We are encouraged by Axian’s strong Pan-African ambition, digital capabilities, and shared commitment to financial inclusion. This transaction presents an opportunity to build on the strong foundations already established in Uganda, while positioning the business for greater efficiency, innovation, and long-term growth. Most importantly, we remain fully committed to delivering meaningful financial solutions that improve lives and empower communities across Uganda,” Aijukwe noted.

Erwan Gelebart, CEO of ADVHM, on the other hand, stated that this agreement represents an important step in advancing Axian’s long-term strategy to expand its financial services footprint across high-growth markets.

“Axian brings a strong track record in operating regulated financial institutions at scale and investing in digital and operational capabilities that support sustainable growth, delivering innovative financial services directly and through its portfolio companies and strategic partnerships, to more than 24 million consumers and small and medium-sized enterprises across Africa.”

 The proposed transaction is expected to benefit the remaining Letshego portfolio by strengthening Letshego’s regulatory capital position and capital allocation discipline, enhancing liquidity and balance sheet resilience, supporting return on equity over time, and enabling increased focus on the Group’s deposit-led funding model, among others.

Letshego confirms that all affected businesses will continue to operate as normal throughout the transaction process, with a focus on minimising disruption to customers, partners or employees.