Letshego Africa Holdings, the Botswana-headquartered financial giant, has announced an agreement to sell its operations in Uganda, Ghana, Tanzania, Nigeria, and Rwanda to Dubai-based Axian Digital Venture Holdings. This major deal marks a shift in Letshego’s 27-year footprint on the continent, aiming to focus its efforts on the Southern African market where it maintains its strongest presence.
According to the official statement released on Monday, May 4, 2026, Letshego will transfer 100 percent of its shares in these five countries to Axian. The entities included in the sale are Letshego Ghana Savings and Loans PLC, Letshego Faidika Bank Tanzania, Letshego Microfinance Bank Nigeria, Letshego Rwanda, and Letshego Uganda.
Reinette van der Merwe, Group CEO of Letshego Africa Holdings, noted that this agreement is a vital step toward streamlining the group’s operations and freeing up capital. “By streamlining our portfolio, we are working to enhance our capital efficiency, strengthen our balance sheet, and deliver improved returns for our shareholders,” she stated. While the company previously operated in 11 sub-Saharan markets, it now plans to increase its competitiveness by concentrating on Southern Africa.
On the other side of the deal, the acquiring company, Axian, views this as a significant springboard to expand financial service accessibility across the continent. Erwan Gelebart, CEO of Axian, indicated that the agreement is a major milestone in the company’s long-term strategy to establish a footprint in high-growth markets.
Axian currently provides digital financial services to over 24 million customers and small enterprises across Africa. Taking over Letshego’s existing infrastructure and customer base will enable Axian to rapidly scale its influence in East and West Africa.
In Uganda specifically, Letshego has built a significant reputation over the last two decades by providing loans to low-income individuals and small business owners. Giles Aijukwe, CEO of Letshego Uganda, expressed confidence that the change in ownership will bring new technological innovations and digital capabilities. “Axian’s strong Pan-African vision and digital prowess will elevate the work we have started in ensuring financial inclusion in Uganda to the next level,” he said.
The full implementation of this business agreement is subject to approval from the relevant regulatory authorities and central banks in each respective country. Upon completion of the sale, Letshego will focus its operations on six remaining countries, while Axian moves to widely introduce its digital banking services across the five newly acquired markets.
