African finance group Letshego Holdings has acquired a 100% shareholding in AFB Ghana Plc. AFB is a licensed non-bank financial institution and offers innovative credit products to over 60,000 customers across its network of more than 25 branch and customer access points.
The acquisition of AFB adds to Letshego’s expansion of its West Africa geographic footprint after its 100% acquisition of Letshego Nigeria MFB (formerly FBN Microfinance Bank) in 2015. It brings Letshego’s country presence to eleven across sub-Saharan Africa and its customer base to over 480,000.
AFB’s trading name will be changed to Letshego Ghana Limited and its brand to Letshego during 2017.