Letshego MFB formerly FBN microfinance bank, incorporated in March 2008 and duly licenced by the Central Bank of Nigeria under the BOFIA (Banks and Other Financial Institutions Act No 25 of 1999), commenced operations January 2009. Letshego MFB is a national microfinance bank licenced to operate in all 36 states of Nigeria.
Currently the bank has a footprint in Lagos, Abuja and Oyo.Letshego Holdings Limited (Letshego), acquired a 100 percent stake in FBN Microfinance Bank (FBN MFB) in December 2015 from its parent, FBN Holdings Plc, so as to advance its ambition of building a leading African financial services group focused on inclusive finance.
Letshego brings its expertise in payroll deduction lending with the public and private sector, as well as lending to micro and small enterprises with a focus on agriculture, education and health sectors. This, combined with Letshego MFB’s existing customer propositions and national banking licence, will position the bank well to improve lives across Nigeria.
Currently Letshego, which ranks among the top 40 market value sub-Saharan African companies excluding South Africa, and supports 300,000 borrowers and 100,000 depositors, has a footprint in Southern, East and West Africa, including Botswana, Kenya, Lesotho, Mozambique, Namibia, Rwanda, Swaziland, Tanzania and Uganda in addition to Nigeria. Letshego is committed to skills development, employing over 1,500 full-time team members and over 700 commission-based sales agents, representing 20 nationalities, across its network of over 260 access points.
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