Staff Writer
In response to a directive from the ministry of finance, Letshego Holdings Namibia and its subsidiaries, Letshego Bank Namibia and Letshego Micro Financial Services Namibia, have suspended all new deduction at source loans for government employees with immediate effect.
The company said all new micro-lending loans will now be issued through debit order arrangements and subject to a credit affordability assessment to ensure responsible lending.
“While this marks a significant shift in the business landscape, Letshego has been preparing for this transition. Since 2016, the company has strategically diversified its product offering beyond micro-lending to include banking services. This diversification strategy has enabled Letshego to expand its product model beyond deduction at source lending, introducing personal loans with repayments via debit order, home loans, transactional accounts, and savings products,” Letshego said.
As of June 2025, the deposit book of savings and transactional accounts reached N$1.18 billion, while home loans stood at N$199 million.
“Our long-term diversification strategy is proving its value. It has strengthened our business and enhanced resilience, allowing us to continue delivering value to our shareholders. Letshego remains well-positioned to serve our customers and communities as we adapt to these changes. We are committed to promoting financial inclusion and maintaining operational stability,” said Ester Kali, chief executive officer of Letshego Holdings Namibia.
Letshego said it will continue to support customers in need of banking services and personal or micro loans, which will now be facilitated through debit order arrangements.
