Axian Group to Acquire Letshego’s East and West African Subsidiaries for Ksh 8.1 Billion
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African investment platform Axian Group, through its digital financial services arm Axian Digital Venture Holding and Management Limited, has agreed to acquire several East and West African subsidiaries of Letshego Holdings Limited in a deal valued at approximately Ksh 8.1 billion.
The transaction will see ADVHM acquire 100% of the issued share capital in five Letshego subsidiaries operating in Ghana, Tanzania, Nigeria, Rwanda and Uganda. The deal excludes Letshego’s Kenyan operations.
According to information shared with shareholders, the businesses being sold are:
- Letshego Ghana Savings and Loans PLC
- Letshego Faidika Bank Tanzania Limited
- Letshego Microfinance Bank Nigeria Limited
- Letshego Rwanda Limited
- Letshego Uganda Limited
These companies provide financial services such as micro-lending, savings products and other banking services to individuals, salaried workers and small businesses.
Competitive Sale Process
Letshego said the sale followed a structured and competitive bidding process aimed at maximizing value for shareholders.
The company approached 61 potential investors and strategic buyers. Out of these, 13 parties submitted expressions of interest, while six bidders expressed interest in acquiring the entire portfolio of assets.
Following due diligence and further evaluation, Letshego received four binding offers.
After assessing the proposals based on financial, commercial and strategic factors, the board selected ADVHM as the preferred bidder.
The parties later entered exclusive negotiations, leading to the signing of definitive transaction documents on April 24, 2026.
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Why Axian Group Wants the Assets
ADVHM is Axian Group’s investment and operating platform for digital banking and financial services across Africa.
The company focuses on acquiring and growing regulated financial institutions in high-growth African markets.
It aims to strengthen services in lending, payments and digital banking while expanding financial inclusion across the continent.
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By acquiring the Letshego businesses, ADVHM is expected to expand its footprint in key African markets and increase access to modern financial services for customers in the five countries.
The proposed transaction has been classified as a Category 1 transaction under the Botswana Stock Exchange listing requirements.
As a result, shareholder approval will be required before the deal can be completed.
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Axian Group to Acquire Letshego’s East and West African Subsidiaries for Ksh 8.1 Billion
PHOTO/Pesa Wall