Captain of the ship and still firmly holding the reigns is Giles Germany Aijukwe, the CEO for the past six years
Kampala, Uganda – 4th May 2026 – Letshego Africa Holdings Limited announces that it has entered into binding sale and purchase agreements with Axian Digital Venture Holdings and Management Limited (“Axian” or “ADVHM”), headquartered in Dubai, UAE, for the proposed sale of 100% of the issued share capital in the following Letshego East and West Africa subsidiaries:
- Letshego Ghana Savings and Loans PLC
- Letshego Faidika Bank Tanzania Limited
- Letshego Microfinance Bank Nigeria Limited
- Letshego Rwanda PLC Limited
- Letshego Uganda Limited
The proposed transaction represents a decisive step in the execution of Letshego’s previously communicated portfolio optimisation strategy, which is designed to strengthen capital efficiency and concentrate management focus on the Group’s core Southern African markets.
Strategic rationale
Commenting on the announcement, Reinette van der Merwe, Group Chief Executive Officer of Letshego, stated: “This proposed transaction marks an important milestone in the execution of our strategy to simplify the Group and focus on markets where we have the greatest scale, stronger competitive positioning and the most compelling opportunities for sustainable growth. By streamlining our portfolio, we expect to enhance capital efficiency, strengthen our balance sheet and position Letshego to deliver improved returns and sustainable long-term value for shareholders.”
Merwe emphasized, “We believe Axian is a strong and like-minded business with the financial capacity, complementary operational strengths and market knowledge to support continued growth of these subsidiaries, underpinned by its commitment to financial inclusion and Africa’s development.”
For over two decades, Letshego Uganda has remained committed to expanding access to inclusive financial solutions for individuals, entrepreneurs, and underserved communities across the country.
“We are encouraged by Axian’s strong Pan-African ambition, digital capabilities, and shared commitment to financial inclusion. This transaction presents an opportunity to build on the strong foundations already established in Uganda, while positioning the business for greater efficiency, innovation, and long-term growth. Most importantly, we remain fully committed to delivering meaningful financial solutions that improve lives and empower communities across Uganda,” Aijukwe Giles, Chief Executive Officer of Letshego Uganda remarked.
Strategic expansion for Axian
Erwan Gelebart, CEO of ADVHM, stated:
“This agreement represents an important step in advancing Axian’s long term strategy to expand our financial services footprint across high-growth markets. Axian brings a strong track record in operating regulated financial institutions at scale and investing in digital and operational capabilities that support sustainable growth, delivering innovative financial services directly and through its portfolio companies and strategic partnerships, to more than 24 million consumers and small and medium-sized enterprises across Africa.
Gelebart added that they look forward to the approval of the proposed sale, and working with the teams in these businesses to continue serving customers, build on their existing strengths and accelerate the development of modern financial services across these markets.
Financial and operational impact
The proposed transaction is expected to benefit the remaining Letshego portfolio by:
- Strengthening Letshego’s regulatory capital position and capital allocation discipline
- Enhancing liquidity and balance sheet resilience
- Supporting return on equity over time
- Enabling increased focus on:
- The Group’s deposit-led funding model
- Scaling short-term credit solutions
- Expanding transactional and savings products
Letshego confirms that all affected businesses will continue to operate as normal throughout the transaction process, with a focus on minimising disruption to customers, partners or employees.
Transaction conditions
The transaction remains subject to regulatory approvals and applicable stock exchange requirements.
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