Pan-African microfinance Letshego ramps up digital plan
Pan- African microfinance firm Letshego is ramping up digitisation plans and intends to register one million customers on its digital platform LetsGo Digital Mall app by 2025.
The drive to have more customers embrace the app is part of Letshego’s broader digital transformation efforts, which the company is rolling out across 11 countries.
Letshego intends to facilitate 80% of customer loan applications through digital channels in the next 24 months.
The company serves low, and middle-income customers and small enterprises and plans to have most of them interact with it through the app.
The LetsGo Digital Mall app allows customers to apply for new or top-up loans, access account details and statements, and update personal information.
Letshego operates in Ghana, Nigeria, Uganda, Rwanda, Tanzania, Namibia, Botswana, Eswatini, Mozambique, Kenya and Lesotho.
The company says its geographical footprint makes registering a million people to use the app possible.
Aobakwe Aupa Monyatsi, Letshego Group CEO, said: “Expanding customer choice by offering more solutions and products via the LetsGo Digital Mall remains a priority across all markets."
Monyatsi said the company is speedily ramping up its digital transformation efforts, prioritising data management.
Monyatsi explained: “Workflow automation, advanced processing, and data analytics will support better insight on customer journeys to inform the development and delivery of relevant solutions that meet customer needs.”
Further, he said Letshego is beefing up its cyber security to “enhance defensive measures against potential security threats and incidents."
Cyber security has become a top priority for governments and businesses, as threat actors target African entities.
Yesterday, a white paper published by Kearney- a global consulting firm – points to Africa becoming an even bigger and more popular target for cybersecurity threats.
In April, the INTERPOL also cautioned in its African Cyberthreat Assessment Report 2023 that cybercrime is becoming more popular in Africa.