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Finalisation of a transaction for Letshego to become a 75% shareholder in Advans Bank Tanza
Letshego Holdings Limited
Incorporated in the Republic of Botswana
Registration number 98/442
Instrument code: LHL01 ISIN: ZAG000101908
Instrument code: LHL02 ISIN: ZAG000101916
Instrument code: LHL03 ISIN: ZAG000101924
Instrument code: LHL13 ISIN: ZAG000129719
(“Letshego Holdings” or “the Company”)
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 SHAREHOLDERS – finalisation of a transaction for Letshego to become a 75%
shareholder in Advans Bank Tanzania Limited
Letshego Holdings Limited (“LHL” / “the Company”) was incorporated in 1998, is
headquartered in Gaborone and has been publicly listed on the Botswana Stock Exchange
(BSE) since 2002. It is a holding company with consumer, micro lending and deposit-
taking subsidiaries across nine countries in Southern and East Africa - Botswana,
Kenya, Lesotho, Mozambique, Namibia, Rwanda, Swaziland, Tanzania and Uganda.
The Board of Directors informed Shareholders on the 27 April 2015, 10 June 2015, 24
July 2015 and 8 September 2015, via cautionary announcements and updates, that the
Company had entered into negotiations with the existing shareholders of Advans Bank
Tanzania Limited (“ABT”) to become a 75% shareholder. ABT is a commercial bank that
specialises in micro finance. Shareholders were notified that if the transaction was
successfully concluded, subject to all regulatory approvals, this may result in a
transaction that could impact the price of the Company’s securities.
The Board of Directors is pleased to inform Shareholders that all regulatory approvals
have now been obtained and that Letshego will now become a 75% shareholder in ABT with
effect from 10 November 2015. The consideration for the share subscription is Tanzania
Shillings 15.5 billion (approximately BWP 70 million).
This adds further deposit taking and banking capabilities to the Letshego footprint and
model, and is in line with Letshego’s diversification and financial inclusion strategy.
Opportunities to leverage and maximise strategic synergies between Advans Bank Tanzania
and Faidika (Letshego’s existing business in Tanzania), will be a key focus in the
coming months and thereafter. These include ensuring all current and future Faidika
customers benefit from Faidika’s strong brand equity and nationwide reach, with ABT’s
diversified solutions platform.
For and on behalf of the Board of Directors
J A Burbidge A C M Low
Group Chairman Group Managing Director
GABORONE, Tuesday, 10 November 2015
Debt sponsor in South Africa
The Standard Bank of South Africa Limited, acting through its Corporate and Investment
Banking division
Sponsoring broker in Botswana
Stockbrokers Botswana Limited
Date: 10/11/2015 09:32:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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