The Central Bank of Eswatini has granted a provisional licence to Letshego Eswatini Bank in-organisation (LEB), currently operating as Letshego Financial Services Eswatini, to operate as a digital bank in the Kingdom of Eswatini. The provisional licence is valid for up to 12 months and requires the bank-in-organisation to complete preparations to become operational before a full banking licence is granted. The decision followed a review conducted under Eswatini laws and the banking regulatory framework after LEB applied on 17 October 2024. The Central Bank determined that LEB meets minimum regulatory standards, citing satisfactory licensing documentation, a proven financial services track record and favourable recent financial performance, and a proposed board and senior management team with expertise across banking operations, fintech and oversight. The assessment also covered capital adequacy ratios above the statutory minimum and compliance with capital requirements under Section 20 of the FIA, as well as the bank’s business plan, earnings prospects and public-interest case focused on serving unbanked and low-income customers and supporting financial inclusion. The Central Bank will work with LEB and relevant stakeholders to ensure the regulatory and legal conditions attached to the provisional licence are met before the bank becomes operational, with further updates to be announced in due course.
Central Bank of Eswatini 2025-06-18
Central Bank of Eswatini grants Letshego Eswatini Bank a provisional 12-month licence to operate as a digital bank
The Central Bank of Eswatini granted a provisional licence to Letshego Eswatini Bank in-organisation to operate as a digital bank for up to 12 months. The bank met regulatory standards, including capital adequacy and compliance with the Financial Institutions Act, and aims to serve unbanked and low-income customers. The Central Bank will collaborate with stakeholders to ensure compliance with licence conditions before full operational status is granted.