Pan-African financial services group Letshego Holdings Limited is set to roll out its digital savings platform LetsGo Digital Mall in Namibia.
The Botswana listed financial services group said the first digital savings pilot will commence in Namibia and Ghana before venturing into other African markets.
“The Group continues to innovate with the launch of a crowd funding capability enabling family and friends to support and save together on the LetsGo Digital Mall,” Letshego said in a SENS announcement.
“This year’s launch of the LetsGo Digital Mall across ten markets marked a significant milestone in our digitilisation jouney. The LetsGo Mall is expected to optimize customer experience given the ease of access and shortened processing times. The Group is on track to deliver its 10 minute loan solution in at least 3 markets by the end of Q1 2022.”
Letshego is an inclusive finance focused group with microfinance, banking and consumer lending subsidiaries across 11 countries in sub-Saharan Africa.
The group’s LetsGo Digital Mall is an interactive platform that customers can access via their mobile phones and online, enabling existing customers to apply for new or top-up loans, access account details, statements and update personal information.
As the platform evolves, the LetsGo Digital Mall will extend customers’ reach to an array of options and choices, including digital payments, savings solutions, rewards, personal insurance, shopping, and cross-border trading as well as educational and personal empowerment portals.
The company also announced that its payments and remittance capabilities have now passed final trials, with Namibia being the first market to launch an end-to-end payments solution.
“Mozambique leads with Letshego’s first cross-border remittance services. Our partnership with Remita in Nigeria opens up additional scope for growth in payment services.”
The group said under its Programmatic Approach, its Affordable Housing proposition had commenced in Namibia in partnership with the IFC, “and is expected to extend to remaining markets with participation from other partners.”
This comes as the IFC in August availed a US$50 million (over N$734 million) financing facility to Letshego’s subsidiary in Namibia to extend access to affordable housing finance for over 4 000 Namibians.
