MBABANE (21 July 2026): Eswatini’s first digital bank is inching closer. It is being created by micro finance lender, Letshego.
The Central Bank of Eswatini (CBE) says Letshego Bank Eswatini (LBE) which was granted a provisional licence last July, has satisfied all pre-bank opening provisions and is expected to start operating soon.
CBE confirmed that while it extended LBE’s provisional banking license on the 13th July 2026 making Letshego a bank-in-organization, the new bank is still organizing its affairs and therefore not yet operational. It is however expected to commence banking operations in due course.
CBE spokesman Mandla Luphondvo told TODAY that the extension was granted ‘upon application by the institution, which was considered by the CBE to have been reasonable.’
“The Central Bank is satisfied with the fulfilment of the licensing conditions and progress made thus far in pursuit of operational readiness and commencement of operations.” Mr. Luphondvo said CBE continues to work collaboratively with the bank-in-organization as they journey towards operational readiness.
“All pre-opening conditions set out in the provisional license have been adequately met. However, it is apposite to contextualize the 12-month provisional period which is fundamentally purposed for the bank or financial institution to establish itself and build its capabilities in all areas of its operations. Accordingly, the digital bank is yet to commence operations.
Letshego Financial Services Swaziland established in Eswatini in February 2006 as a subsidiary of the Botswana incorporated Letshego Holdings Limited (LHL).
CBE says that during this transitional period, the institution will continue to conduct its existing, separately licensed financial services business, which remains distinct from the banking activities to be undertaken once the banking license is operationalized.
“The dispensation to continue with the business of granting loans was granted by the Central Bank when granting the provisional banking license. In terms of our framework, a digital bank is defined as a bank which primarily delivers retail banking services through the internet or other forms of electronic channels, instead of physical branches,” CBE said.
Since starting operations in Eswatini LSE has steadily grown into a leading financial services provider with diverse products that serve low, middle income, and medium and Small enterprises (MSE). It is one of five national micro finance service providers. The others are African Alliance’s Select Management; Inhlonhla’s Amandla Financial Services, GetBucks and FINCORP’s First Finance.
The new digital bank currently partners with telephony company MTN Eswatini to access informal markets to offer Mobile Money Loans.
Jm/today/21 July 2026
