FINANCIAL services provider, Letshego, is celebrating its 10th anniversary.
Speaking at a Friday ceremony at Avani Lesotho to mark the milestone, Letshego CEO, Selloane Tsike, said theirs was a huge achievement given that many businesses folded within the first five years of their establishment.
Ms Tsike said they had survived the tough financial services industry because they offer favourable terms to their clients.
“We have grown significantly since we started because we offer good services and make our clients feel comfortable,” Ms Tsike said.
She said Letshego would continue to partner with different stakeholders to improve their business and contribute to the overall of Lesotho’s economy.
Acting Letshego board chairperson, Malehlohonolo Van Tonder, attributed their longevity to hard work. She declared that the company was “here to stay”.
Ms Van Tonder said Letshego offers loans of up to M400 000 per client, payable over 84 months.
“Our loan book started with one customer but this has grown to about 5 000 customers. When we started out, I dispersed M12 million to clients in the first month. This quickly grew to M15 million and then to M25 million,” Ms Van Tonder said.
She said their highest annual profit of M44, 67 million had been registered in December 2016.
“We exceeded expectations in that year (2016) and that was when we knew that Letshego was here to stay,” she added.
The company is not all about profits, it is also into corporate social responsibility (CSR) programmes to help Basotho from disadvantaged backgrounds.
In fact, one percent of Letshego’s profits go towards the company’s CSR programmes.
Over the years, the company has paid fees for 80 school children in Butha-Buthe.
It has donated four industrial sewing machines, two hand machines and 10 tables to teenage mothers in Sehlabeng, Maseru.
The company has also donated groceries, toiletries and kitchen utensils to Pulane High School in Quthing.
On his part, Central Bank of Lesotho (CBL) representative, Mokotjo Mphaka, congratulated Letshego on the occasion of its 10th anniversary.
He described the company as a “responsible financial services provider”.
“Letshego follows CBL regulations, otherwise they wouldn’t be operating in this country,” Mr Mphaka said.