Letshego Savings and Loans secures GH¢100m via debt capital market

Letshego Ghana Savings and Loans Plc successfully listed a GH¢100 million dual bond offer on the Ghana Fixed Income Market, comprising three-year fixed-rate notes and five-year floating-rate notes.

This issuance is part of their expanded GH¢500 million Medium-Term Note Programme, with 2024's total fundraise reaching GH¢200 million after an earlier GH¢100 million issuance in March.

The offer, oversubscribed by 31%, was priced at 22.5% for the fixed-rate note, while the floating rate was set at an 182-day Treasury bill rate plus 100 basis points.

CEO Nii Amankra Tetteh expressed gratitude to investors, emphasizing Letshego’s mission to expand inclusive financial solutions. With joint arrangements by Stanbic Bank Ghana Ltd. and Black Star Brokerage Ltd., Letshego strengthens its position as a trusted corporate bond issuer in Ghana.

The company, originally founded as African Financial Services in 2010, now operates across 16 outlets and serves over five million customers, with Letshego Africa Holdings as its parent company operating in eleven African markets.