Verdant Capital advises JUMO World Limited on the sale of 100% of afb Ghana to Letshego Holdings Limited.
Letshego has announced the completion of the acquisition of afb Ghana following final regulatory approvals. afb Ghana was launched in 2010 and has total assets of GHS 97 million (approx. USD 23 million), making it now one of the largest consumer and micro lending institutions in Ghana. JUMO World advised by Verdant Capital, has sold the business in order to focus on its core financial technology business.
Letshego Holdings Limited, is a leading pan-African inclusive finance institution, listed on the Botswana Stock Exchange, with total assets of BWP 7.5 billion (approx. USD 710 million). The transaction is one of a series of successful transactions through which Letshego has broadened its business geographically and by product over the last five years. Letshego is now present in eleven countries, deposit-taking in five, and has an Micro/SME loan book of around USD 60 million, mainly in East Africa and Nigeria.