KAMPALA, Uganda — Letshego Africa Holdings Limited has entered into binding agreements to sell its subsidiaries in Uganda, Ghana, Tanzania, Nigeria, and Rwanda to Dubai-based Axian Digital Venture Holdings and Management Limited.
The transaction, announced Monday, involves the sale of 100% of the issued share capital in five of Letshego’s East and West African businesses. The move is part of a portfolio optimization strategy intended to concentrate management focus and capital on the group’s core markets in Southern Africa.
Reinette van der Merwe, Letshego group chief executive officer, said the sale marks a milestone in simplifying the group’s operations.
This transaction allows us to focus on markets where we have the greatest scale and the most compelling opportunities for sustainable growth, van der Merwe said. By streamlining our portfolio, we expect to enhance capital efficiency and strengthen our balance sheet.
The buyer, Axian, is a pan-African investment platform that operates digital banking and financial services. Erwan Gelebart, chief executive officer of Axian Digital Venture Holdings, said the acquisition is a step toward expanding the company’s financial services footprint across high-growth markets.
Axian currently serves more than 24 million consumers and small businesses across the continent. Gelebart said the company plans to invest in digital and operational capabilities to accelerate the development of modern financial services in the newly acquired markets.
In Uganda, where Letshego has operated for over two decades, officials said the transition will support long-term growth and innovation.
Giles Aijukwe, chief executive officer of Letshego Uganda, said the business remains committed to delivering financial solutions to underserved communities during the transition.
This transaction presents an opportunity to build on the strong foundations already established in Uganda while positioning the business for greater efficiency, Aijukwe said.
Letshego officials confirmed that all affected businesses will continue normal operations throughout the process to minimize disruption for customers and employees. The deal is expected to strengthen the group’s regulatory capital position and support its deposit-led funding model in its remaining markets.
The sale remains subject to regulatory approvals and applicable stock exchange requirements. Letshego Africa Holdings is headquartered and listed in Botswana, operating in 11 sub-Saharan markets.
