Climate Change Data

Environmental Metrics

ESG Focus Areas

• Financial Inclusion
• Gender Equality
• Sustainable Development Goals (UN SDGs)
• Environmental Sustainability
• Ethical Lending
• Employee Wellbeing

Environmental Achievements

• Replaced air conditioners in Ghana branches with energy-efficient models (EcoFridges Go initiative), resulting in reduced energy consumption.
• Developed green housing prototypes in Ghana, achieving a 20% reduction in energy, water, and material consumption.
• Developed a green lending solution for Solar Taxi customers purchasing e-vehicles in Ghana, reducing carbon emissions by 93% and energy savings by 93% per annum per e-bike.

Social Achievements

• Launched LetsGo mobile digital platform for everyday transactions and savings.
• Launched the LetsGo Digital Mall in 10 markets, increasing access to financial services.
• Conducted a social impact survey (2262 customers, 48% women) showing positive impact on financial wellbeing.
• Launched Digital Wellbeing platform providing access to healthcare and wellness information.
• Expanded lending portfolio to include programmatic lending for affordable housing, education, and healthcare.
• Supported MSEs through working capital and short-term loans, purchase order financing, and mentorship opportunities.
• Provided repayment holidays and debt relief measures during COVID-19.
• Launched education scholarships for young technical students in Mozambique.
• Partnered with Botswana Teachers Union to deliver a financial literacy program.
• Supported maternal and child mental health in Uganda through youth sport engagement.

Governance Achievements

• Established the Group Sustainability Management Committee to drive ESG framework implementation.
• ESG training delivered to all employees in 2021.
• Developed and implemented ESG management framework across Ghana, Nigeria, and Tanzania.
• Board appointment policy with a focus on skills, knowledge, experience, and diversity, including gender diversity.

Climate Goals & Targets

Environmental Challenges

• Limited mobile and telecommunications infrastructure in some areas hindering digital app usage.
• Impact of a levy on mobile money transfers in Ghana affecting mass mobile lending.
• COVID-19 pandemic impacting operations and customer needs.

Mitigation Strategies

• Retained USSD channels to reach customers in areas with limited infrastructure.
• Provided repayment holidays and debt relief measures during COVID-19.
• Prioritized health and wellbeing of employees, customers, and contractors during COVID-19.
• Developed and implemented ESG management framework to address ESG risks and opportunities.

Supply Chain Management

Responsible Procurement

• Partnerships with local suppliers for affordable housing initiatives.

Climate-Related Risks & Opportunities

Opportunities

• Green lending opportunities, energy-efficient products.

Reporting Standards

Frameworks Used: UN SDGs

UN Sustainable Development Goals

• 1, 2, 3, 4, 5, 8, 9, 10, 11, 13, 17

Letshego's activities contribute to these SDGs through financial inclusion, affordable housing, healthcare, education, and sustainable business practices.

Sustainable Products & Innovation

• EcoFridges Go, green housing solutions, green lending products.

Environmental Metrics

ESG Focus Areas

• Financial Inclusion
• Gender Equality
• Environmental Sustainability
• Governance
• Social Impact

Environmental Achievements

• Launched green lending initiatives in Ghana and Nigeria, financing electric scooters and solar power solutions.
• Incorporated green benefits (solar geysers, grey water tools) into affordable housing offerings in Botswana.

Social Achievements

• Over 50% of customer base are women or women-owned businesses.
• Letshego Nigeria won the AfDB AFAWA Award for extending financial solutions to women.
• Letshego Uganda won a Digital Impact Award for Customer Financial Inclusion.
• Launched Digital Mastery Programme, upskilling employees in digital technologies.

Governance Achievements

• Established a Group Sustainability Management Committee.
• Operationalized the Environmental & Social Risk Management System.
• Appointed ESG Champions across country divisions.
• Developed and launched a Culture Blueprint.

Climate Goals & Targets

Environmental Challenges

• Slow economic recovery in Sub-Saharan Africa with uneven growth across the region.
• Geopolitical tensions, rising risk of debt distress, and climate-related shocks.
• Currency devaluation in Ghana, Kenya, and Nigeria.
• High inflation and interest rates impacting consumer purchasing power.
• Increased competition for talent.
• Increasing levels of cybercrime.
• Hyperinflationary conditions in Ghana.
• Operational challenges from central registries impeding timely loan deductions.

Mitigation Strategies

• Transformation Strategy and 6-2-5 execution roadmap.
• Dynamic Enterprise Risk Management Framework.
• Product diversification (mobile lending, insurance).
• Digitization of channels and platforms.
• Geographic rebalancing.
• Strengthening balance sheet and capital optimization.
• Investing in cybersecurity and data protection.
• Talent development programs.
• Proactive balance sheet management and capital optimisation.
• Robust compliance and risk management frameworks.
• Portfolio remediation strategy to accelerate collections and recoveries.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: International Integrated Reporting Framework (January 2021), King Report on Corporate Governance for South Africa (2016), International Financial Reporting Standards (IFRS®)

Certifications: ISO 27001 (Nigeria)

Third-party Assurance: EY

UN Sustainable Development Goals

• 11 of the 17 UN SDGs

Increasing access to instant micro credit, extending access to capital for small business owners, MSEs and underbanked traders.

Sustainable Products & Innovation

• Solar Taxi financing (Ghana)
• Solar lighting and power solutions financing (Nigeria)
• Green affordable housing (Botswana)

Awards & Recognition

• 2023 Best Locally Listed Company Award (Letshego Namibia)
• AFAWA Bank of the Year (Letshego Nigeria)
• Women's Financial Solutions Institution of the Year (Letshego Ghana)
• Digital Impact Award for Customer Financial Inclusion (Letshego Uganda)