Letshego Botswana Sets Standards In Financial CSR

By Chedza Mmolawa

Fergus Ferguson

Letshego Botswana is one of the epitomes of what CSR truly reflects and represents. Letshego’s purpose is to improve lives by extending the reach of simple, affordable, and appropriate financial solutions to Individuals and Micro and Small Entrepreneurs (MSEs) with a focus on Youth, Health, Agriculture, Education, Affordable Housing, and Entrepreneurs. This purpose informs and drives everything the company does and indeed sits at the heart of the business. The Letshego Group is an African multinational, first opening its doors in Botswana more than 21 years ago by offering loans to government employees. Today the Group has over 3,000 employees comprising more than 21 nationalities and supports public and private sector individual customers, as well as micro and small entrepreneurs. The company has operations in 11 sub-Saharan African markets, including Eswatini, Ghana, Kenya, Lesotho, Mozambique, Namibia, Nigeria, Rwanda, Tanzania, and Uganda.

Letshego Botswana Chief Executive Officer (CEO) Fergus Ferguson narrates their company's firm resolve to improve lives for ordinary citizens across the breadth of their footprint in Africa, which includes every inch of Botswana.

CSR AT LETSHEGO BOTSWANA Letshego strives to achieve sustainability in Botswana and aligns with 11 out of the United Nation's 17 Sustainable Development Goals (SDGs) and the national government mandate to encourage the productive use of loans, ultimately increasing income potential, employment levels, and sustainable economic development within local communities. Ferguson explained that this is something they are incredibly committed to and passionate about. The concept of creating shared value and delivering impact is engrained into how they do business, allowing them to make a meaningful impact and positive progress at every turn. “The ongoing evolution and formalisation of our approach to Environmental, Social, and Governance (ESG) matter are driven by the developmental component of our mandate. We are committed to being a good, proactive corporate citizen, as demonstrated by our ESG activities and impact over time,” explained Ferguson.

LETSHEGO CSR PORTFOLIO The company's CSR investments align with its aspirations to provide financial support to individuals and Micro and Small Entrepreneurs (MSEs). In 2021, Letshego sponsored Botswana Teachers Union with up to P200,000 in support of a 12-month Financial Literacy Program for Teachers.

And earlier this year, their MSE Purchase Order Financing facilitated for entrepreneurs and small business owners who were contracted by the government to deliver over 18, 000 laptops to students and teachers. The equipment, worth over P56,000,000, provided top-class technology across 34 secondary schools in Botswana.

They also recently launched their Digital Mastery Programme, where 15 brilliant minds were enrolled in the program, comprising 10 youthful members of the public and 5 Letshego employees. This is part of Letshego’s ‘People-First Strategy’ that aims to build future-fit communities where

digital and technological innovations are used as strategic enablers for growth and economic development.

At the onset of COVID-19, Letshego Botswana donated P1,000,000 to the National COVID-19 Relief Fund to help support the fight to reduce the spread of COVID-19 in the country. Letshego has continued to invest in the wellbeing, health, and safety of the people of Botswana – colleagues, customers, and communities – since then as the pandemic waged further across the country and the continent.

Finally, over the years, Letshego has provided donations in support of Botswana Teacher’s Day, Botswana Defence Force, the Botswana Police Service, the annual Desert Bush Walk, and the University of Botswana (UB) Foundation to support their respective civic and charitable obligations.

LETSHEGO’S CSR LONG-TERM STRATEGY As a responsible financial institution, Letshego Botswana plays a central role in driving sustainable socio-economic development for the benefit of its stakeholders at large. They understand that to achieve their potential, Letshego needs thriving economies, well-functioning societies, and healthy environments both in Botswana and across the region.

Ferguson said they recognize that interdependent sustainability issues such as social justice, environmental stewardship, and inclusive development will play an increasingly important role in shaping society. To this end, we aim to redouble efforts to create sustainable shared value in a manner that drives more equitable and inclusive societal impacts and outcomes.

“Letshego recently launched Letshego's LetsGo Digital Mall, a virtual, world-class financial services platform connecting the digital and physical worlds, created to improve lives through easy access to a wide range of socially impactful services and solutions, micropayment and savings solutions, affordable and eco-friendly housing, education, family insurance as well as productive and green lending options," he further explained.

IMPACT IN BOTSWANA Letshego continues to have a considerable positive impact in Botswana both through its sustainable lending model that promotes financial literacy, as well as inclusive and productive lending. In line with their purpose, Letshego aims to ‘Improve Lives for Batswana' and to support the national government mandates to encourage the productive use of loans, ultimately increasing income potential, employment levels, and sustainable economic development within local communities.

HOW LETSHEGO’S CSR IS EVOLVING "We aim to progressively transfer the learnings from our digital transformation journey in ways that make it easy for Batswana to access more affordable financial support, financial literacy, education, and affordable housing that we offer at Letshego. What is important to note is that our resolve will never wane in working to drive positive progress and create shared value for communities, but our thinking, efforts, and passion indeed evolve for the better every day we learn, we grow, and we use this to deliver greater impact in improving lives," he concluded.