Letshego Holdings Namibia remains committed to its purpose of improving lives through inclusive financial solutions.
The inaugural N$260 million Social Bond, launched in May 2024, represents a significant milestone in Letshego’s journey to expand financial inclusion across Namibia, particularly for underserved communities that have historically faced barriers to formal financial services.
The Social Bond, fully aligned with the International Capital Market Association’s Social Bond Principles and Letshego’s comprehensive Social Financing Framework, has enabled the company to channel affordable credit to those who need it most.
“We are proud to report that the fully allocated Social Bond has financed 7,488 productive loans, with 86.3% supporting individuals earning less than N$7,500 monthly to Namibia’s ultra-low-income segment,” said Ongame Mutorwa, Communications Manager at Letshego.
Mutorwa said that these are not just statistics but represent real progress in addressing Namibia’s financial inclusion challenges.
According to the 2017 Namibian Financial Inclusion Survey, 22% of adult Namibians remain financially excluded, with this figure rising to 27.1% in rural areas.
Letshego’s Social Bond directly addresses this gap by providing responsible financial solutions that enable access to essential services and socioeconomic advancement.
Independent verification from IBIS ESG Consulting Africa has confirmed that Letshego’s transparent allocation and impact reporting have met international best practices. Their assurance validates that Letshego’s Social Bond proceeds have been directed exclusively toward eligible social assets, with no funds used for ineligible or excluded activities.
Letshego Holdings Namibia’s social finance initiatives also contribute directly to multiple United Nations Sustainable Development Goals, including those focused on poverty reduction (SDG 1), gender equality (SDG 5), decent work (SDG 8), and reduced inequalities (SDG 10).
By enabling access to affordable finance for education, healthcare, housing improvements, and microenterprise development, Letshego is helping build the foundation for a more inclusive Namibian economy.
Letshego maintains close connections with the communities it serves through its 16 physical outlets and network of direct sales agents. This on-the-ground engagement enables Letshego to develop financial solutions that address specific local challenges faced by different communities, from urban entrepreneurs to rural households.
Looking ahead, Letshego remains focused on expanding responsible finance practices while maintaining the integrity of its ESG commitments.
The success of the Social Bond initiative provides a strong foundation for scaling the approach to financial inclusion and continuing to deliver shared value, unlocking opportunities for individuals, households, and communities across the country.
“In a financial landscape increasingly defined by the dual mandate of purpose and profit, Letshego Holdings Namibia the parent company of Letshego Bank Namibia and Letshego Micro Financial Services Namibia is proud to demonstrate that responsible finance can drive both business growth and meaningful social impact,” stated Mutorwa.
In the photo: Mrs Ongame Mutorwa, Letshego Namibia’s communications manager.
