Letshego Group Namibia continues to lead the charge in driving the development of solutions that are responsive and solve customers’ needs, and that reward productive financial behaviour. For Letshego, people from all walks of life should be able to access financing for improving their livelihoods, while in turn, actively participating in the economy through financing productive endeavours. In testament of this, Letshego has launched the Improving Life Campaign (ILC) for 2017, a customer engagement campaign rewarding productive loan use behaviour by Letshego customers
In its 2016 ILC campaign, Letshego received a total of 2,877 stories back that were categorised under Education, Home/Home Improvement, Farming, Motor Vehicle Purchase, Business and Health Productive loan use.
Customers are invited to share their stories of how they have used Letshego finance to sustainably improve their lives, and they stand a chance to win their share of N$100,000. To participate, one has to visit any Letshego branch around the country, fill in the entry form, share their story on the form and hand it to a Letshego consultant. It’s that simple!
ILC campaign winners will be rewarded by the bank enhancing their existing productive loan use, for example, if they won because they used Letshego funds to buy a taxi, the prize money, which amounts to N$20,000 per winner, will be applied to buying tyres, maintaining the taxi or buying an additional taxi – addressing only the productive needs of the winner.
In previous years, Letshego Namibia and its sister companies across Africa have consistently embraced responsible and ethical financial services by running customer and public campaigns that focus on rewarding productive financial behaviour – creating a culture that brings inclusive finance to the financially marginalised.
Said Letshego Namibia chief executive officer, Ester Kali: “As Letshego, we are very excited to have launched this vital campaign in Namibia as we aim to foster inclusive finance and financial literacy to all Namibians. Our campaign is designed to reach more members of the public who, due to various socio-economic issues, have not been afforded financial access. We encourage all Namibians who have gained from our Improve Life Campaign and through the LetsGo banking solution to participate and share with us their stories on how the financing changed their lives for the better. We believe in ensuring that the financing we extend to our customers is used in a responsible and sustainable manner.”
Since its establishment, Letshego has been equipping customers to create a financially inclusive society and improve lives by enhancing financial education. In support of this mandate, the bank earlier this year signed up as a member to the Financial Literacy Initiative (FLI) in an effort to provide access for financial sector customers and other financially excluded and underserved groups to receive financial education programmes, to assist them in making informed financial decisions throughout their lives. Letshego’s support towards FLI follows a series of related strategic social investment (SSI) initiatives undertaken by the company to align to the government’s national development goals and the Harambee Prosperity Plan.