Letshego Bank Tanzania – History, Ownership, Network and More

Letshego Bank Tanzania – History, Ownership, Network and More

Letshego Bank Tanzania Limited also called Letshego Bank, operates as a Tanzanian commercial bank regulated by the country’s national banking regulator and central bank, the Bank of Tanzania.

Type Private
Founded 2011
Industry Financial Services
Headquarters Dar es Salaam
Products Checking, Loans, Savings, Debit Cards, Investments
Key people Chairman – Claude Falgon CEO – Frank Sneider
Employees (2014) 179
Total assets (March 2015) 8.7 million USD (Tsh 15.3 billion)
Website http://www.advansbanktanzania.com/


Letshego Bank Tanzania operates as a commercial bank that the Bank of Tanzania governs. The social objective of the bank is to provide appropriate and long-term financial services to medium-sized, small, and micro-businesses, as well as low and middle-income employees. Letshego is a microfinance institution. The equity of the stockholder was valued at around €5.2 million (6.5 million USD or Tsh:11.4 billion) by March 2014. Customer deposits reached approximately €1.8 million (2.23 million USD or Tsh:3.9 billion). In March 2014, Letshego’s total assets were projected to be €7.0 million (8.7 million USD or Tsh:15.3 billion).


In May 2010, the bank, which was then called Advans Bank Tanzania, got a commercial banking permit from the Bank of Tanzania. In February 2011, Letshego bank established its first office in Dar es Salaam, Tanzania’s commercial hub and largest city. The Letshego Microfinance Bank aimed to create other branches in the city of Dar es Salaam as well as other parts of the nation once it opened with a workforce of eighteen.

Letshego Bank Tanzania Ownership

Advans Bank Tanzania was established in 2011 as a joint enterprise involving Advans SA, an enterprise capital business based in Luxembourg, as the primary shareholder (70 percent) and the Netherlands Development Finance Company (FMO) with 30 percent ownership. Advans SA’s goal is to build microfinance institutions in emerging markets. Advans SA, which was established in 2005, owns microfinance institutions in the DRC, Ghana, Cameroon, Cambodia, Cote d’Ivoire, Pakistan, and Tanzania. Advans SA had spent more than USD 76 million (55 million Euros) in the nations they operate in by March 2011. Letshego Holdings Ltd Botswana purchased 75% of the bank in November 2015 by injecting USD 7 million in additional shares.

Letshego Bank Tanzania’s shareholding is illustrated in the table below as of November 2015.

Owner Percentage
FMO 7.5
Advans SA Luxemborg 17.5
Letshego Holdings Ltd Botswana 75.0

Branch Network

Branches City Address
Manzese Branch (Main Branch) Dar es Salaam 93 Morogoro Road at Manzese Darajani
Mbeya Branch Mbeya Soweto at former Royal Zambezi
Mwanza Branch Mwanza Lumumba Road accross Mayi Hotel
Temeke Branch Dar es Salaam’s Temeke Across Temeke Primary Court
Kariokoo Branch Dar es Salaam’s Kariakoo Kariakoo Street, Lumumba Street


Andrew Charles Tarimo is the acting CEO of Letshego Bank Tanzania.

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