Wrap Text
LHL- Changes to the Board
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.
Letshego Holdings Limited (“LHL” / “the Company” / “Letshego”) was incorporated
in 1998, is headquartered in Gaborone and has been publicly listed on the
Botswana Stock Exchange (BSE) since 2002. Letshego is a pan-African financial
institution with consumer, micro-lending and deposit-taking subsidiaries across
sub-Saharan African economies.
In accordance with the Botswana Stock Exchange Equity Listings Requirements, the
Board of Directors of the Company (“the Board”) hereby notifies its shareholders
that Smit Crouse, Group Chief Executive and Executive Director of the Group Board
has resigned. Smit Crouse will step down from his role with immediate effect.
While the Board conducts its search for a successor, Dumisani Ndebele has been
appointed as Group CEO for the interim period. Dumisani, who will report
directly to the Board, will commence his position following necessary approvals
from relevant regulatory bodies.
Dumisani is currently the Group Company Secretary and returned to Letshego at the
beginning of January 2019. He originally joined the Group in 1999, during its
formative phase, as Finance and Administrative Executive. During his time at
Letshego, Dumisani shared his expertise in several leadership roles, namely
Finance Director, Group Risk and Compliance Director and finally, Group Head of
Governance and Compliance - a position Dumisani held from 2013, until his
departure in 2016.
Dumisani is a Fellow Chartered Accountant of the Botswana Institute of Chartered
Accountants, and a Fellow Chartered Management Accountant (UK). He holds a
Bachelor of Accountancy Honours Degree from the University of Zimbabwe, and MBA
from the University of Derby (UK). Dumisani is a member of the Information
Systems Audit and Control Association, as well as the Institute of Directors in
Southern Africa. Prior to joining the Letshego Group in 1999, Dumisani was
Finance Manager at De Beers, supporting the diamond trading and prospecting
division in Botswana.
Matshidiso Kimwaga will step-up to assume the Group Company Secretary role.
Matshidiso joined Letshego in 2018 as Head of Legal and Compliance for the
Southern African region, including governance and company secretary
responsibilities. She holds a LLB Degree from the University of Pretoria and a
Postgraduate Certificate in Compliance Management from the University of Cape
Town. Prior to joining Letshego, Matshidiso held legal, risk and compliance
leadership roles at Liberty Life Botswana and Stanbic Bank Botswana.
Letshego has made significant progress towards achieving its ambition to be a
leading pan-African inclusive finance provider, operating across 11 countries
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with 6 deposit taking licences. In the last financial year, Letshego recorded
over BWP1 billion in profit before taxes.
The Letshego Group Board noted, “Letshego will continue to evolve in supporting
emerging consumers across Africa. By ensuring that our customers and employees
come first, Letshego will thrive for many years to come. We thank Smit for his
time at Letshego and are grateful to Dumisani Ndebele for assuming the role of
Group CEO while we search for a successor.”
Commenting on the announcement, Dumisani Ndebele, interim Group CEO said; “It is
an honour and a privilege to step into the role of interim Group CEO at Letshego
Holdings Limited, especially as it enters its third decade of operations.
Working closely with, and supported by, Group and Country Leadership as well as
our 3,000 staff members across Africa, we will drive our core objective of
improving access to finance across Africa, and generating sustainable growth for
all our stakeholders.”
The Letshego Group Board has initiated a search to identify a new Group Chief
Executive, and an announcement will be made in due course.
Letshego continues to drive its financial inclusion strategy and strengthen its
operations through investment in technology, people and strategic partnerships.
The Board remains confident that the Company is well positioned to seize the
growth opportunities its sub-Saharan footprint presents.
For and on behalf of the Board of Directors:
E Banda
Group Chairman
GABORONE, Botswana
29 March 2019
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: 29/03/2019 04:19:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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