Micro Provident Limited t/a Letshego

completed

_x000C_The project is to provide a multi-currency loan of up to $20.0 million to Micro Provident Botswana Limited (Letshego or the company) to support the Company’s growth.Letshego is a leading consumer finance company in Botswana, with subsidiaries in Swaziland, Tanzania, Uganda, and, shortly, in Zambia. It was founded by Micro Provident Limited (MPL), an Isle of Man company, in 1998 as a private entity, after which it converted to a public enterprise in 2002, and listed on the Botswana Stock Exchange in September 2002. The company provides short to medium-term consumer loans to employees of governmental, quasi-governmental and private sector companies in the countries in which it operates, with the loans being repaid by payroll deduction. In 2004, MPL sold a portion of its interest to IFC alongside Pan-African Investment Partners and Pan-Commonwealth African Partners (the Funds), two investment funds managed by Zephyr Africa Management Company (Zephyr) and FMO. At present, IFC exposure to the company is $3.97 million representing a 7.1% equity stake.