Letshego Ghana Savings and Loans PLC, the financial institution behind the QwikLoan digital microcredit service, is set to change ownership after its parent company, Letshego Africa Holdings Limited, signed binding agreements to sell 100 percent of its subsidiaries in Ghana, Tanzania, Nigeria, Rwanda and Uganda to Dubai-headquartered Axian Digital Venture Holdings and Management Limited.
The transaction, announced on Monday May 4, marks a significant strategic retreat by the Botswana-listed lender, which is exiting five East and West African markets to concentrate on its Southern African core. Letshego operates across 11 sub-Saharan African countries, serves more than 4.5 million customers, and employs over 3,000 staff. The sale will significantly reduce its geographic footprint as it approaches 27 years of continental operations.
The proposed acquisition covers Letshego Ghana Savings and Loans PLC, Letshego Faidika Bank Tanzania Limited, Letshego Microfinance Bank Nigeria Limited, Letshego Rwanda PLC Limited and Letshego Uganda Limited, with Axian acquiring 100 percent of the issued share capital in each entity. No financial terms were disclosed.
For Ghana, the deal transfers a regulated savings and loans licence along with an established digital lending platform to a buyer with considerable scale. Axian Group is led by Madagascar-born billionaire Hassanein Hiridjee, who co-founded the group with his brother Amin in 2015. The group operates across 17 countries with more than 7,500 staff, recorded a 2024 turnover of $2.75 billion, and already serves more than 24 million consumers and small businesses across Africa through regulated banks and fintechs.
Group Chief Executive Officer Reinette van der Merwe described the transaction as a key milestone in simplifying Letshego’s structure and unlocking shareholder value. “By streamlining our portfolio, we expect to enhance capital efficiency, strengthen our balance sheet and position Letshego to deliver improved returns and sustainable long-term value for shareholders,” she said.
Axian’s Chief Executive Erwan Gelebart framed the acquisition as a strategic land-grab with infrastructure attached, gaining regulated licences, existing customer bases and operational teams across five markets that would otherwise take years to assemble independently. Axian’s recent moves reflect an accelerating pan-African banking push, having backed the USDh stablecoin in March 2026 and pushed into Nigeria’s clean energy market in February.
For QwikLoan users and other Letshego Ghana customers, the central bank and stock exchange approvals required to complete the transaction mean the business will continue operating normally in the interim. Letshego assured all stakeholders that customer service and product access will remain uninterrupted during the transition period.
The deal reshapes financial inclusion dynamics in Ghana’s digital lending space, transferring an established mobile money-integrated credit product into the hands of a group with significantly larger digital infrastructure and a broader continental platform on which to build.
