Letshego Holdings, an inclusive finance focused group with consumer, micro lending and deposit-taking subsidiaries across sub-Saharan Africa, has hired Enos Banda as a new independent Non-Executive Director (NED) to chair its board. 

Banda’s appointment to the Letshego Group Board received regulatory approval in August 2016, bringing the number of Directors to 11, of which seven are independent NEDs.

“I am excited to accept the invitation to chair Letshego Holdings’ Group Board. I look forward to supporting Letshego’s strategic objectives, particularly those focused on embracing inclusive finance; also, the Group’s culture of innovation to provide access to the under-served and un-banked, combined with its sustained growth and diversification across the continent resonate with my aspirations for African socio-economic development,” said Banda.

An investment banker by background and a South African-born entrepreneur, Banda founded Gauteng-based fund, Freetel Fund Management, and has practiced law in both South Africa and the USA. 

During his career he has advised governments as well as domestic and international private entities on transactions related to energy, telecommunications, and water-and-logistics infrastructure. 

Additionally, he has served as the regional head of investment and corporate banking for the African operations of Credit Suisse and HSBC.

Banda has extensive board and governance experience in both the public and private sector.  

He has served in national regulatory and government agencies, including the South African (SA) National Electricity Regulatory, the Municipal Infrastructure Investment Unit of the SA Government. 

He is the former Chairman of Gold Reef Resorts (merged with Tsogo Sun) and former Chairman of Budget and Audit Committees of Norilsk Nickel MMC, the LSE listed resources company. 

Currently he serves as a Co-Chairman at South African Chamber of Commerce in America. 

His professional and corporate experience covers Asia, Africa, Europe and North America with specialisation in global investment banking and international treaty law.

John Burbidge, outgoing Board Chairman, Letshego, said: “The Board of Directors and management are pleased to welcome Enos to the Letshego Holdings Limited Group Board. He has an excellent track-record for leading successful African teams on the global stage, having played a significant role in chairing various organisations and overseeing corporate activities."

"I will be handing over in the next few months and I am confident that Letshego’s journey to becoming Africa’s leading inclusive finance group will be in good hands under Enos’ chairmanship. Further, he will contribute to our success in improving life for the millions of financially under-served across Africa,” he added.

Incorporated in 1998, Letshego is headquartered in Gaborone, Botswana and has been publicly listed on the Botswana Stock Exchange since 2002.

It is one of Botswana’s largest indigenous groups, with a market capitalisation in excess of $500m and an agenda focused on inclusive finance.