Letshego CEO to retire in 2027

Ogone Tlhage
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Letshego Holdings Namibia has begun preparations to appoint a successor to group chief executive Ester Kali, who is expected to retire in August 2027 after more than 12 years at the helm.


In a notice to the Namibia Securities Exchange (NSX) on Monday, the financial services group said its board would initiate a recruitment process to allow sufficient time to identify a successor and ensure an orderly leadership transition.


Kali will remain in her position during the process and is expected to stay with the company until 31 December 2027 to support the handover.


The board credited Kali with leading the business through significant economic and social changes, adding that the company had continued to grow and strengthen its operations under her leadership.


No successor has been announced. Further details will be communicated once the recruitment process has been completed and the necessary governance and regulatory approvals obtained.


Kali’s tenure


Kali joined Letshego Namibia as chief executive in November 2014, having previously served as head of retail and business banking at First National Bank Namibia.


She brought more than 25 years of banking experience to the position and had also served as chairperson of the Payments Association of Namibia between 2006 and 2008.


During her tenure, Letshego expanded from a micro-lending business into a broader financial services group, developing its banking operations, deposit-taking capacity and branch network.


The group has also pursued initiatives aimed at broadening access to financial services, including its first social bond issuance and the opening of its first dedicated deposit-taking branch in Oshakati.


Its financial performance has strengthened in recent years. Profit after tax increased by 20.8% to N$505.8 million for the year ended 31 December 2025.


From micro-lender to banking group


Letshego Holdings Namibia is the parent company of Letshego Bank Namibia and Letshego Micro Financial Services Namibia. Its operations focus on providing financial services to individuals, micro-enterprises and small businesses, with an emphasis on underserved market segments.


The business traces its origins to Edu Loan Namibia, which began operations in the country in the late 1990s and early 2000s as a consumer and micro-lending provider. Botswana-based Letshego acquired the business in August 2008 and subsequently rebranded it.


A significant milestone came in 2016 when the company secured a banking licence from the Bank of Namibia, enabling it to expand beyond lending into deposit-taking and broader banking services.


It subsequently listed on the NSX in September 2017, following a public share offer that introduced additional local ownership.