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LETSHEGO UGANDA LAUNCHES THEIR FLASH CASH INSTANT LOAN

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Letshego Uganda, a subsidiary of Letshego Holdings Limited (“Letshego Group”), has launched their latest product called Flash Cash, a small self-service loan of up to UGX180,000 over 30 days.

Flash Cash is geared towards consumers who need quick and easy access to funds for emergency purposes, including but not limited to family emergencies, sudden medical needs, home repairs, car breakdowns or funds to support entrepreneurs and small business operations.

Letshego Uganda Chief Executive Officer Giles Aijukwe said, “Flash Cash serves as a superb vehicle to accelerate financial inclusion for Ugandans.

It is designed to benefit people from all walks of life, as a convenient and hassle-free financial lifeline offered at a competitive market price and paperless secure service.

The first qualifier to accessing Flash Cash is that you should register on Letshego’s LetsGo Digital Mall which is downloadable from Android and Apple Play Store, or by clicking on www.letsgo.letshego.com.”Flash Cash aligns well with Letshego Uganda’s sustainable lending model and financial inclusion as the product caters for formal and informally employed members of our communities, including Micro and Small Entrepreneurs (MSEs) who do not typically earn their salaries through the banks, that is; the underbanked.

When processing Flash Cash loan applications, Letshego conducts a quick digitised credit check to assess the customer’s eligibility for the required loan amount.

Customers who repeatedly repay their Flash Cash loans on time are able to qualify for a larger loan amount at their next application. This ensures that more people can access the service, including first-time borrowers who can now enjoy the benefits of a secure, regulated lending solution. Once approved, the money is disbursed directly into the customer’s Mobile Money account.

It can then be used as the customer desires, including for emergencies, such as purchasing prepaid electricity and water, paying bills, or sending money to friends and family.

The Flash Cash loan is offered in collaboration with local mobile network operators MTN Uganda and Airtel Uganda. The innovative Flash Cash is a potential game-changer, as it is accessible anytime, anywhere and is more competitive than traditional short-term cash advance providers, providing customers with immediate financial relief and the opportunity to participate in the digital economy in a sustainable and responsible manner.

LETSHEGO APPOINTS AOBAKWE AUPA MONYATSI AS GROUP CHIEF EXECUTIVE

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The Board of Letshego Holdings Limited has affirmed the appointment of Aobakwe “Aupa” Monyatsi as Group Chief Executive with immediate effect, subject to regulatory approvals.

Prior to this appointment Monyatsi held the same role in an interim capacity from 4 May 2022, having led the inclusive finance entity’s digitalization of systems and operations for the last two years in his inaugural position as Group Chief Operating Officer (Group COO).

Aupa is a well-rounded and experienced pan-African regional banker, with demonstrated tech and digital-savvy expertise having spearheaded and developed innovation and virtual channel strategies in his previous role as Absa Group’s Managing Executive for Alternative Channels.

His career journey has provided Africa-wide experience from Ghana, Senegal, Nigeria and Kenya, having led a team in incubating fintech’s that drive financial inclusion through mobile money, block chain and AI (Artificial Intelligence).

With a clear balance of financial and technical experience, Aupa is ideally placed to steer Letshego into the Group’s next chapter of embedding and monetizing the Group’s recent investment into digital systems and product innovation.

Enos Banda, the Group Chairman of Letshego Holdings Ltd affirmed the appointment, adding, “Aupa is an ideal candidate to take Letshego into the next generation where we aim to bring a proficiency in retail tech, diverse pan-Africa financial sector experience as well as a passion to make a difference. His dynamic and personable leadership style, balanced by his empathy and appreciation for people, makes him an ideal candidate to lead our organisation. Aupa’s appointment evidences Letshego’s progress in building a robust succession plan for our future organisation, as we progress in our vision to be worldclass.”

During his career at ABSA Botswana, Aupa was Chief Operating Officer and Head of Distribution Channels, with his latest role being Acting Managing Director for ABSA Botswana before transferring to the bank’s Africa head office in South Africa, as Managing Executive for Alternative Channels.

Commenting on his appointment, Aobakwe “Aupa” Monyatsi, Group Chief Executive added, “I am now excited to lead, support and inspire our diverse and dynamic Pan-African teams to unlock our collective potential for the benefit of our people, as well as the benefit of our customers, stakeholders and communities where we operate.

I have been inspired by the warmth and support received since I joined Letshego, and I am honoured to lead the Group into our next chapter of evolution, securing long term shareholder return.”