Letshego Ghana Savings and Loans posted GH¢109.3 million in net profit for the first nine months of 2026, a 53.6% increase from a year earlier. Its unaudited accounts, released on October 30, show stronger earnings at the Ghanaian lender as its Botswana-based parent pursues a proposed sale of the business to Axian.
For the period ended September 30, net interest income climbed to GH¢685.8 million from GH¢506.1 million a year earlier. Interest income increased to GH¢844.2 million, while the corresponding funding expense fell to GH¢158.4 million from GH¢215.7 million. Those movements supported profitability even as several of the company’s expenses rose.
Credit provisions rise sharply
Credit-loss charges on loans and advances rose 40% to GH¢224.6 million. Against gross customer advances of GH¢1.68 billion, impairment provisions reached GH¢496 million, up from GH¢293.8 million at the end of September 2025, leaving a net loan book of GH¢1.19 billion. The company reported a net non-performing loan ratio of 7.1%, down from 12.3%.
Customer deposits increased to GH¢787.6 million from GH¢699.9 million, while the capital adequacy ratio improved to 22% from 20.4%. Net cash generated by operating activities, however, declined to GH¢160.3 million from GH¢318.6 million over the corresponding nine-month period of 2025.
Planned Axian sale provides the backdrop
The results come as Letshego Africa Holdings reshapes its portfolio. On April 27, the group announced binding sale and purchase agreements with Axian Digital Venture Holdings and Management covering 100% of five subsidiaries, including Letshego Ghana. The proposed transaction also involves operations in Tanzania, Nigeria, Rwanda and Uganda and requires the relevant regulatory approvals.
Through the planned disposal, the Botswana-based group aims to concentrate resources on its Southern African markets. The September accounts provide a fresh measure of the Ghanaian lender’s profitability, asset quality and customer funding as that ownership transition is pursued.