Dar es Salaam. Letshego Faidika Bank Tanzania has assured customers, employees and partners of uninterrupted operations following a proposed sale of Letshego Africa Holdings Limited’s regional subsidiaries to pan-African investment platform Axian Digital Venture Holding and Management Limited.
The group announced that it has entered into binding sale and purchase agreements with the Dubai-headquartered firm for the disposal of 100 percent of its shareholding in selected East and West African units.
The subsidiaries earmarked for sale include Letshego Ghana Savings and Loans PLC, Letshego Faidika Bank Tanzania Limited, Letshego Microfinance Bank Nigeria Limited, Letshego Rwanda PLC Limited and Letshego Uganda Limited.
Letshego Faidika Bank Tanzania chief executive officer, Mr Baraka Munisi, said the local market remains central to the bank’s operations, despite the ownership transition.
“Tanzania remains a strategic and important market, and our customers are at the heart of everything we do,” he said.
“The proposed transition is expected to further strengthen our ability to deliver accessible, relevant and innovative financial solutions that respond to the evolving needs of individuals, families and businesses across the country.”
Mr Munisi added that the bank would maintain stability throughout the process.
“We are confident that, subject to regulatory approvals, this transition will unlock new opportunities. We remain committed to ensuring continuity, trust and value for our customers, employees and partners,” he said, emphasising that business in Tanzania will continue as normal.
The proposed transaction forms part of Letshego’s broader strategy to streamline its portfolio and focus on core Southern African markets.
Under the agreement, Axian will acquire subsidiaries across five countries—Ghana, Tanzania, Nigeria, Rwanda and Uganda—marking a significant expansion of its footprint in Africa’s financial services sector.
Letshego Group chief executive officer, Ms Reinette van der Merwe, said the move is aimed at improving efficiency and strengthening the group’s financial position.
“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,” she said.
She added that Axian brings the financial capacity and operational expertise required to support continued growth of the businesses, particularly in advancing financial inclusion.
Axian Digital Venture Holding and Management Limited chief executive officer, Mr Erwan Gelebart, said the acquisition aligns with the firm’s long-term expansion strategy.
“This agreement represents an important step in advancing Axian’s long-term strategy to expand our financial services footprint,” he said.
, noting that the company will work with existing teams to build on current strengths and accelerate the rollout of modern, technology-driven financial services.
Letshego said the transaction is expected to strengthen its regulatory capital position, improve liquidity and enable greater focus on deposit-led funding, short-term lending, and the expansion of savings and transactional products.
The deal remains subject to regulatory approvals and applicable stock exchange requirements, with further details to be communicated in due course.
