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Improving living conditions for the beneficiaries of Letshego in Botswana
Project
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Signature date
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Location
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Botswana
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Financing tool
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Financing amount (Euro)
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15 000 000,00
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Customer
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Letshego Financial Services (Pty) Ltd Botswana
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Type of customer
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Microfinance
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Country of headquarters
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Botswana
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Project number
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PZZ1646
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Environmental and social ranking
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IF-C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated a €15 million loan to the microfinance institution Letshego Botswana to facilitate access to financial products for its clients and meet the needs of disadvantaged population groups in Botswana.
Client presentation
Letshego Botswana, a subsidiary of Letshego Africa Holdings Limited, is a Botswanan microfinance institution. Its mission is to facilitate access to financing by targeting the basic needs of underserved populations in the country.
Project description
Proparco’s €15 million senior loan will enable Letshego Botswana to improve the living conditions of its beneficiaries through financial products accessible to all in Botswana. By encouraging customers to use their loans for productive purposes, which includes using funds for affordable housing, small business development, and agriculture-related activities, the financing can be used for sustainable social and community benefit.
Project impact
The expected impacts of this financing are as follows:
- 39 jobs supported over the next 5 years, mainly through the bank’s financing (indirect jobs)
- Support for improved access to financing for more than 2,040 micro-borrowers
- Contribution to gender equality through a commitment to fulfil certain 2X Challenge criteria: Leadership, Employment, and Products and Services criteria
The project will thereby contribute to the achievement of SDGs 1 (No poverty), 5 (Gender equality) and 8 (Decent work and economic growth).