20 November 2017

Nigeria: Letshego MFB Wins Microfinance Banking Award

Letshego Microfinance Bank said it recently won the "Excellence in Microfinance Banking," award at the New Age Banking Summit 2017, which was held in Lagos.

The financial institution said it was recognised for its commitment to growth, transformation, as well as its provision of simple, appropriate and affordable financial solutions.

Letshego Microfinance Bank Nigeria representatives; Benjamin Muketha (CEO), Richard Tyotule (Head Financial Inclusion), Keneilwe Matseke (Head Consumer Solutions) and Emmanuel Michael (Head Human Resources) received the award on behalf of Letshego Nigeria.

The New Age Banking Summit with the theme "Enhancing Banking Digitisation" brought together industry experts, regulators and thought leaders to discuss the key challenges and trends of banking in the digital era.

According to the organisers, "the digital banking landscape in Nigeria is expected to transform the country to Africa's fintech hub. The recent upsurge in digital banking has catapulted the predominantly cash driven country to wider financial inclusion.

Letshego's Head of Financial Inclusion, Richard Tyotule said, "Letshego Nigeria remains committed to its inclusive finance agenda, by increasing access to affordable financial solutions to those members of the community who traditionally do not have access to financial solutions. In this way, we aim to extend the reach of financial benefits to more individuals across the country, ultimately improving life and communities on a collective basis."

Letshego Holdings Limited, the Botswana based inclusive financial service provider, entered Nigeria in 2016, through its acquisition of FBN Microfinance, leveraging on the group's regional experience in delivering financial solutions to under-served communities across 11 African markets.

"Letshego Microfinance Bank Nigeria continues to expand its offerings to the broader Nigerian market giving access to affordable financial solutions enhanced by Letshego's multi-channel, digital network.

"Letshego Nigeria provides innovative borrowing and savings solutions to small entrepreneurs to finance their stock, assets and cash flow needs. In the last 12 months, the company has launched tailored financial solutions in education, affordable housing as well as small scale agri-business sectors," the firm explained in a statement.

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