Letshego Africa Holdings Limited has entered into binding agreements to sell 100% of its subsidiaries in Ghana, Tanzania, Nigeria, Rwanda, and Uganda to Axian Digital Venture Holdings and Management Limited, headquartered in Dubai.
Letshego Ghana is the company behind the popular QwikLoan digital microcredit service on MobileMoney Fintech Limited platform, among several other relevant products designed to deepen financial inclusion.
The proposed transaction is a key step in Letshego’s portfolio optimisation strategy, enabling the group to exit selected East and West African operations and refocus resources on its core Southern African markets.
Group CEO Reinette van der Merwe said the deal is intended to simplify the business, enhance capital efficiency, strengthen the balance sheet, and support improved long‑term returns for shareholders, while partnering with a “like‑minded” investor committed to financial inclusion.
Axian, which already provides financial services to more than 24 million customers across Africa, views the acquisition as a strategic expansion into high‑growth markets, leveraging its digital and operational capabilities to drive innovation and scale.
Letshego officials said Axian’s pan‑African ambition and digital strengths will help build on existing foundations across the various markets, with continued focus on serving individuals, entrepreneurs, and underserved communities.
The transaction, expected to bolster Letshego’s capital position and liquidity and sharpen its focus on deposit‑led funding and short‑term credit solutions, remains subject to regulatory and stock‑exchange approvals; all affected businesses will continue operating as normal during the process.
In Ghana, the sale is being generally viewed as good news for our client because it promises to deliver deeper tech capability and reach, build on existing strategy focus and ensure that over time, client get greater satisfaction and experience.
