Aupa Monyatsi, the Group CEO of pan-African micro-financier Letshego, has resigned to pursue an external opportunity. Monyatsi resigned on January 15 and will serve a three-month notice period until April 14.
Monyatsi initially served as Letshego's Chief Operating Officer from 1 March 2020 before ascending to the CEO position in July 2022. Some initiatives he oversaw throughout his tenure include Letshego's 6-2-5 strategy which involved investment in digitalization and digital capabilities to leverage those to plug into other ecosystems to create new products, scale current ones, and reduce our costs.
In 2023, Monyatsi said that Letshego signed contracts with some of Africa's largest mobile network operators that gave the company access to their tens of millions of customers. From H2 2023 until the end of 2025, as part of the 6-2-5 strategy, Monyatsi said that they will leverage those customer bases to launch more consumer-facing products.
Monyatsi also oversaw the company's "geographical rebalancing", which involved the company's operations in East and West Africa. However, this also brought some trouble for the company under Monyatsi, including allegations of loan defaults in Kenya and Uganda and significant drops in profits which saw the company withhold dividends from shareholders last year to support operations.
"The Board and staff of Letshego would like to thank Mr. Monyatsi for his leadership and contribution. He has set a strong foundation that we will continue to build from," Letshego told shareholders.