KAMPALA.Letshego Africa Holdings has signed binding agreements to sell its operations in Uganda, Ghana, Tanzania, Nigeria, and Rwanda to Dubai-based Axian Digital Venture Holdings and Management.
In an announcement issued on Monday, Letshego noted that Axian will acquire 100 percent of the issued share capital in Letshego Ghana Savings and Loans PLC, Letshego Faidika Bank Tanzania Limited, Letshego Microfinance Bank Nigeria Limited, Letshego Rwanda PLC Limited, and Letshego Uganda Limited.
The deal is the clearest signal yet that the Botswana-headquartered lender is doubling down on Southern Africa, where it said it has scale, stronger competitive positioning and better odds for sustainable growth.
Group Chief Executive Officer Reinette van der Merwe said the proposed transaction was a milestone in Letshego’s strategy to simplify the group and free up capital.
By streamlining the portfolio, he said, the company expects to enhance capital efficiency, strengthen the balance sheet, and position the group to deliver improved returns and sustainable long-term value for shareholders.
Van der Merwe also noted that Axian was a strong and like-minded business with the financial capacity, complementary operational strengths and market knowledge to support continued growth of the subsidiaries, underpinned by its commitment to financial inclusion and Africa’s development.
For Letshego Uganda, the exit ends more than two decades of building inclusive finance solutions for individuals, entrepreneurs and underserved communities across the country, but opens a new phase of opportunities under Axian.
Letshego Uganda Chief Executive Officer Giles Aijukwe said they were encouraged by Axian’s strong Pan-African ambition, digital capabilities, and shared commitment to financial inclusion, noting that the transaction presented an opportunity to build on the strong foundations already established in Uganda, while positioning the business for greater efficiency, innovation, and long-term growth.
He stressed that the company remains fully committed to delivering meaningful financial solutions that improve lives and empower communities across Uganda.
In the joint statement Axian also indicated that it sees the Letshgo portfolio as a springboard for its financial services expansion.
Chief Executive Officer Erwan Gelebart said the agreement represents an important step in advancing Axian’s long-term strategy to expand its financial services footprint across high-growth markets.
He pointed to Axian’s track record in operating regulated financial institutions at scale and investing in digital and operational capabilities that support sustainable growth.
The group already delivers innovative financial services directly and through portfolio companies and strategic partnerships to more than 24 million consumers and small and medium-sized enterprises across Africa.
If cleared, the sale will shrink Letshego’s footprint from 11 sub-Saharan markets as it marks 27 years of operation.
The group, headquartered and listed in Botswana, serves more than 4.5 million customers with a staff complement of over 3,000 and has built its brand on leveraging innovation and technology to reach populations with limited access to traditional financial services.
The Axian deal effectively redraws that map, concentrating Letshego’s future on its Southern African core while handing Axian a ready-made platform in five of the continent’s most competitive retail finance markets.