Letshego Africa Holdings Limited has entered into binding sale and purchase agreements with Axian Digital Venture Holdings and Management Limited (Axian) for the proposed sale of its East and West African subsidiaries.
The transaction covers 100 percent of Letshego’s shareholding in its operations in Ghana, Tanzania, Nigeria, Rwanda and Uganda, marking a significant step in the Group’s ongoing portfolio optimisation strategy. The move is aimed at strengthening capital efficiency and sharpening management focus on its core Southern African markets.
Commenting on the development, Group Chief Executive Officer Reinette van der Merwe described the agreement as a key milestone in the company’s strategic journey.
“This proposed transaction marks an important step in simplifying the Group and focusing on markets where we have the greatest scale, stronger competitive positioning and the most compelling opportunities for sustainable growth,” she said. “By streamlining our portfolio, we expect to enhance capital efficiency, strengthen our balance sheet and deliver improved returns and long-term value for shareholders.”
She added that Axian brings both financial strength and complementary capabilities, alongside a shared commitment to advancing financial inclusion across the continent.
For more than two decades, Letshego Uganda Limited has played a key role in expanding access to inclusive financial solutions, supporting individuals, entrepreneurs and underserved communities nationwide.
Chief Executive Officer Aijukwe Giles welcomed the proposed transition, noting that it presents an opportunity to build on existing foundations while unlocking greater efficiency and innovation.
“We are encouraged by Axian’s strong Pan-African ambition, digital capabilities and shared commitment to financial inclusion. This transaction positions the business for long-term growth while ensuring continued delivery of meaningful financial solutions that improve lives,” he said.
From Axian’s perspective, the acquisition aligns with its long-term expansion strategy across high-growth African markets. Erwan Gelebart, Chief Executive Officer of Axian Digital Venture Holdings and Management, said the deal strengthens the company’s financial services footprint and builds on its experience operating regulated institutions at scale.
He noted that Axian currently serves more than 24 million consumers and small and medium-sized enterprises across Africa through its portfolio and partnerships, supported by continued investment in digital and operational capabilities.
“We look forward to securing the necessary approvals and working with the teams to build on their existing strengths while accelerating the delivery of modern financial services in these markets,” Gelebart said.
The proposed transaction is expected to strengthen Letshego’s regulatory capital position, enhance liquidity and improve balance sheet resilience. It will also support returns over time while enabling the Group to deepen its focus on a deposit-led funding model, scale short-term credit solutions and expand its transactional and savings offerings.
Letshego confirmed that all affected businesses will continue operating as normal throughout the transaction process, with efforts focused on minimising disruption to customers, partners and employees.
The transaction remains subject to regulatory approvals and applicable stock exchange requirements.
