Business 4 May 2026 Daily Monitor (Uganda)
Letshego Exits Uganda and Four African Markets in Axian Deal
Letshego Africa Holdings is selling its operations in Uganda, Ghana, Tanzania, Nigeria, and Rwanda to Dubai-based Axian Digital Venture Holdings as part of a strategic shift to Southern Africa. The move ends over 20 years of Letshego's financial inclusion efforts in Uganda, paving the way for growth under new ownership. Source: https://www.monitor.co.ug/uganda/news/national/letshego-to-exit-uganda-four-other-african-countries-after-axian-acquisition--5446670
Letshego Africa Holdings has agreed to sell its subsidiaries in five African countries—Uganda, Ghana, Tanzania, Nigeria, and Rwanda—to Axian Digital Venture Holdings and Management, based in Dubai. This transaction involves 100% of the shares in entities like Letshego Uganda Limited and others.
The Botswana-headquartered firm aims to refocus on Southern Africa, where it sees better growth prospects and competitive advantages. Group CEO Reinette van der Merwe described the deal as key to simplifying operations, boosting capital efficiency, and delivering long-term shareholder value.
For Uganda, the exit concludes more than two decades of providing inclusive finance to underserved individuals, entrepreneurs, and communities. Letshego Uganda CEO Giles Aijukwe expressed optimism about Axian’s digital expertise and pan-African vision, promising continued commitment to innovative financial solutions.
Axian CEO Erwan Gelebart views the acquisition as a platform to expand its financial services in high-growth markets. The group already serves over 24 million customers across Africa through various channels.
If approved, this will reduce Letshego’s presence from 11 sub-Saharan markets after 27 years, concentrating efforts in its core region while empowering Axian in competitive retail finance areas.
Source: Daily Monitor