Letshego Holdings Limited, a group with consumer, micro lending and deposit-taking subsidiaries across Southern, East and West Africa, has rebranded FBN Microfinance Bank (FBN MFB) to Letshego MFB- to enhance financial inclusion in the country with a focus on health, agriculture, education, and housing sectors of the economy.
The firm had in December 2015 acquired 100 percent shareholding in FBN Microfinance Bank (FBN MFB). Consequently, Letshego, last week, rebranded the Nigeria business with new brand promise “Let’s improve life,” as a testament to its commitment towards making a positive difference in people’s lives.
“We believe that Letshego’s ability to respond to the needs of the underserved through a focus on customer experience, and to deliver simplicity to our customers through a focus on innovation will set our offerings to the Nigerian public apart,” Chris Low, group managing director of Letshego MfB said in Lagos.
He said the news of the acquisition early this year is coming to life now as Letshego MFB takes shape in a bold, purposeful new look and feel, joining a family of brands that has a clear vision and strategy for inclusive finance.
“This is another affirmation of our commitment to the people of Nigeria – we will continue to make every effort to ensure we deliver relevant, value adding and responsible financial solutions. Innovation underpins our financial inclusion agenda, and it is innovation, partnerships and access to capital that we leverage to ensure we help deliver an enhanced customer experience to improve life. Doing so remains our goal and, indeed, our passion. Our new brand promise “Let’s improve life,” is embodied in everything that we do,” Low said.
Speaking at the event, Tom Kocsis, Group head of East Africa and Microfinance said, “This is a tremendous time for Letshego. As we commemorate this milestone, we remain cognisant of our commitment to the delivery of broad based financial solutions through diversification of customer segments, products and access channels. The growth prospects in our targeted formally employed, low-and-middle income and MSE customer segments in Nigeria bring a wealth of potential. Our growing investment in supporting the people of Nigeria, and championing strong socio-economic development through inclusive finance, is a means for us to further improve lives. Born in Botswana, with a pan-African strategy and footprint, we remain passionate about ensuring we live true to the very meaning of “Letshego,” which translates from Setswana to “support.”
John Ologe, chief executive officer of the bank said, “We are excited for the many opportunities that lie ahead and the plans we have for a truly inclusive Letshego MFB. Amongst some of the investments and advancements made by the bank is greater accessibility of products for customers as well as improvement in turnaround time on lending products. Supporting this is the greater investment into the capability of the team serving our current and future customers, as well as deeper access to necessary growth-capital. As the latest entrant into the Letshego family, we are committed to growth, diversity and improving life.”
Hope Moses-Ashike
