Wrap Text
BILETS-Group Managing Director
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 – NOTICE TO SHAREHOLDERS
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. It is an inclusive finance focused
Group with consumer, micro-lending and deposit-taking subsidiaries across sub-
Saharan Africa.
In line with the Letshego Group Board’s ambition for the Group, and following the
approval by the Botswana regulator, NBFIRA, the Letshego Group Board has
appointed Smit Crouse as Letshego’s new Group Managing Director. Smit will be
based at Letshego’s Group Headquarters in Gaborone, Botswana, and will be taking
office on 24 September 2018.
Smit’s extensive international and regional experience gained across multiple
sectors, will lead the Group in its pursuit of providing customers with
compelling value propositions, whilst creating stakeholder value.
Commenting on the appointment, Enos Banda, Letshego’s Group Chairman said, “The
Board is confident that with Smit’s extensive experience, and more specifically,
his unique strategic approach, thought leadership and drive for operational
excellence, will enable the Group to be well positioned in realising its full
potential.”
Smit has over 20 years of experience in the multinational, private and
multilateral sectors of finance, commerce and law. More recently, Smit has been
a senior executive and special adviser to the International Finance Corporation
(‘IFC’), the World Bank’s Financial Institutions Group (Washington D.C). Since
2015, Smit advised the IFC on the management of strategic pan-African banking
investments and development projects in financial services across emerging
markets.
Prior to advising the IFC, Smit was a senior executive for seven years at South
Africa’s Nedbank Group, where he played an instrumental role in Nedbank’s
regional banking strategy as Managing Executive for Nedbank Group’s African
Investments, Alliances and Strategy Division. In this role, Smit was responsible
for Nedbank’s significant strategic expansion and implementation of leading
operational best practice post investments.
Smit has also been a member of the senior management team at
PricewaterhouseCoopers Corporate Finance, where he advised large multinationals
on corporate action, including international and local initial public offerings.
Prior to this, Smit practiced international commercial law, and before that, held
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various senior executive roles in commerce. Smit holds LLB and LLM
(International Taxation) degrees from the University of Pretoria, and completed
management and board director development programs at Harvard Business School,
Oxford, INSEAD and Singularity University.
Commenting on the announcement, newly appointed Group Managing Director, Smit
Crouse added, “I know Africa as a continent of diversity and contrast, which
dynamics provide for an environment full of unique opportunities to those who
respect and appreciate local knowledge. I look forward to engaging all
stakeholders of the business across our footprint, including customers, on the
positioning of Letshego for the future.”
25 September 2018
Debt sponsor in South Africa
The Standard Bank of South Africa Limited, acting through its Corporate and
Investment Banking division
Sponsoring broker in Botswana
African Alliance Securities
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Date: 25/09/2018 09:09:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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