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BILETS-Appointment of Group CEO
Letshego Holdings Limited
Incorporated in the Republic of Botswana
Registration number 98/442
(JSE Code: “BILETS”)
(“Letshego Holdings” or “the Company” or “the issuer”)
This announcement is being released on the Johannesburg Stock Exchange for
information purposes only in respect of Letshego Holdings Limited’s Note
Programme.
NOTICE TO ALL STAKEHOLDERS - LETSHEGO HOLDINGS LIMITED – APPOINTMENT OF GROUP CEO
Letshego’s Group Board has successfully concluded its executive search for a
permanent Group CEO to lead the 11 market strong pan-African lender. Andrew
Fening Okai, Standard Chartered’s former Global Chief Operating Officer for the
international bank’s retail division, has been chosen by the Board to lead the
pan-African lender, pending due regulatory approvals.
Andrew Fening Okai – Biography
Andrew stands to bring more than 20 years of international banking experience to
Letshego’s top executive post. In his latest empowering venture, Andrew founded
Precept Human Capital, a consulting firm dedicated to assessing, profiling,
training, coaching, and equipping Africa’s next generation of private and public
sector leaders with international trends in leadership and expertise.
Prior to Precept, Andrew enjoyed a dynamic and successful career in Standard
Chartered Bank, where his latest role as Group Chief Operating Officer (Group
COO) based him in Singapore, with responsibilities spanning the international
bank’s footprint across 30 countries in Africa, Asia, the Middle East, Europe and
the America’s. As Group COO, Andrew’s executive responsibilities included:
strategic transformation across processes and platforms; client experience;
business/cost efficiencies and risk and compliance,. Andrew played a leading
role in managing Standard Chartered’s retail digital investment along with the
framework, policies, procedures and systems required to deliver enhanced client
experience, meet local regulatory requirements and mitigate operational risk.
Prior to his Group COO role, Andrew held a number of other senior roles in
Standard Chartered, working from Ghana, Hong Kong, South Africa and Zambia.
Previous roles included: Head of Operational Excellence, Hong Kong; Regional
Head Transaction Banking for Banks, Africa; Executive Director Consumer Banking,
Ghana and CEO, Zambia. Before joining Standard Chartered, Andrew started his
career as a Management Trainee with Unilever Ghana.
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Andrew was educated in Ghana, Russia and the UK, and holds a Chartered Banker MBA
degree (Bangor University, Wales UK), a Diploma (post graduate) in Business
Administration and Management (Henley Business School UK) and an MSc in Food
Processing Technology (Kuban State Technological University, Russia). Andrew is
married, the proud father of two young adults. Andrew is passionate about
people, development and supporting Africa’s positive growth potential. He is
committed to facilitating and leading sustainable change to unlock future
economic potential for individuals and emerging business.
Confirming the appointment on behalf of the Letshego Group Board, Enos Banda,
Group Chairman, added, “Andrew’s career path denotes multi-geography financial
expertise in diverse disciplines within a retail banking environment, including
governance, strategy, risk and strategic transformation. His experience is not
only drawn from Africa, but from diverse emerging markets internationally. I am
confident Andrew will bring the leadership, vision and strategic insight Letshego
needs to secure our next phase of focus and impact, all while empowering existing
and future leaders across our business and delivering long term value for our
investors.”
Andrew Okai’s appointment to Letshego’s Group CEO role will commence once all
local and regulatory requirements are met. On regulatory approval, Andrew will
assume the role from Dumisani Ndebele, Letshego’s Interim Group CEO.
Enos Banda added, “On behalf of the Board, I wish to take this opportunity to
express my sincere appreciation to Dumisani Ndebele for his outstanding
commitment and dedication in leading the business during this period of
transition. Dumisani’s commitment to excellence and proficiency in finance,
policy and governance has been invaluable in maintaining momentum and focus.”
For and on behalf of the Board
E Banda
Group Chairman
GABORONE, 15 January 2020
Debt sponsor in South Africa
Kea Sape: 0117215594 or kea.sape@standardbank.co.za
The Standard Bank of South Africa Limited, acting through its Corporate and
Investment Banking division
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Date: 15-01-2020 12:07:00
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