Letshego raises BWP 10M via senior unsecured notes placed with IPRO Botswana Money Market Fund
What's the deal? Letshego Africa Holdings has raised BWP10 million by issuing senior unsecured notes under its BWP3.5 billion Medium Term Note Programme.
The Botswana-based financial services group placed the entire tranche privately with the IPRO Botswana Money Market Fund.
The notes carry a fixed 10.90% coupon, were issued at par, and mature on June 29, 2026. Absa Securities Botswana arranged the deal, with Motswedi Securities acting as sponsoring broker.
Why now? The issuance lets Letshego tap domestic capital to manage funding and liquidity across its operations.
It continues to use its expanded BWP3.5 billion programme to diversify funding sources across 11 African markets, including Botswana, Namibia, Kenya, Nigeria, and Ghana.
In August 2025, Moody's affirmed Letshego's B1 issuer rating with a stable outlook, an important benchmark for institutional investors weighing its debt.
What could go wrong? The notes rank pari passu with Letshego's other senior unsecured obligations, putting investors on equal footing with existing creditors in any claim against the issuer.
A B1 rating sits in non-investment-grade territory, signalling meaningful credit risk.
The signal: The deal reflects a broader push by African financial institutions to tap local funding pools rather than rely on foreign capital, deepening local-currency debt markets that are increasingly seen as vital to long-term economic resilience across the continent. For Letshego, the modest BWP10 million private placement underscores how its BWP3.5 billion Medium Term Note Programme has become a recurring tool to manage liquidity across its 11-market footprint.
Read more: southernafricantimes.com
