Who is Ester Kali?

Ester Kali is a God-fearing woman, a dedicated wife, and a mother of two. Professionally, she is the Chief Executive Officer of Letshego Holdings Namibia and Letshego Bank Namibia. Kali is the first-ever female CEO appointed in the Namibian banking industry. Her leadership was pivotal in successfully guiding her Letshego team through a significant company listing on the Namibian Stock Exchange in 2017.

In recognition of her achievements, she was awarded Businesswoman of the Year in the Private and Corporate sector category by the Namibian Business Woman Programme in 2019. Kali was also inducted into the Namibia Business Hall of Fame as a Laureate in 2022. 

Kali is a passionate advocate for financial literacy and inclusion. She is actively engaging in discussions surrounding economic empowerment for disadvantaged individuals. As a prominent figure in her field, Kali remains dedicated to making impactful contributions that enhance the lives of many. She is a results-driven professional with a solid commitment to women's empowerment, especially for single mothers, a cause that holds personal significance for her as she was raised by a single mother. In addition to her professional pursuits, Ester is a philanthropist who has established the charity organisation Tukwafele, which supports orphanages and nursing homes, offers mentorship to aspiring professionals in the banking industry, and advocates for young women from underprivileged backgrounds. Kali is also the founding chairlady of the Payments Association of Namibia and serves on the boards of Letshego Holdings Namibia, Letshego Bank Namibia, and the Bankers Association of Namibia. She is Chairlady at the National Social Marketing Programme (NASOMA), a non-profit organisation actively involved in HIV prevention nationally. Additionally, she is the Chairlady at the Academy of Banking Namibia, which serves as a centre of excellence for banking education.

How was your childhood and what attracted you to banking?

Reflecting on her childhood, Ester Kali grew up in Mondesa, Swakopmund, in a family of seven, including her five sisters, a hardworking single mother, and herself as the eldest sibling. Their mother, a domestic worker, worked tirelessly to support the family. Ester had her share of responsibilities, helping her mother manage the household and make ends meet. This led her to start a small business selling "vetkoek," a popular Namibian treat.  

Her mother had a bank account where the employer deposited her income. One of her most vivid memories was accompanying her mother to the bank. Kali was mesmerised by the simple act of the teller stamping the deposit slip. At that moment, her aspiration of becoming a banker was born, and she yearned for a career in the bank.

What is Letshego and how was it established?

Letshego Holdings Namibia Limited, also known as LHN or Letshego Namibia, is a fully-owned subsidiary of Letshego Holding Limited (LHL), listed on the Botswana Stock Exchange (BSE). Letshego Namibia is the parent company of Letshego Micro Financial Services Namibia, which offers micro-lending products such as personal and debt consolidation loans to government employees, and Letshego Bank Namibia, providing transactional, savings, and loan services to all Namibians.  

The roots of Letshego Namibia can be traced back to 2002, when it operated as Edu Loan Namibia, offering consumer and micro-lending services to government employees. In 2008, Letshego Holding Limited acquired a 100% stake in Edu Loan and introduced the Letshego brand to the Namibian market. The name "Letshego" means "Support" in Setswana.

What has been the major achievements of Letshego and what has been its major challenges in recent years?

Letshego Namibia has achieved remarkable success over the years. It has grown into a prominent financial services provider, offering a wide range of products catering to low and middle-income individuals and small to medium enterprises. Letshego has been actively engaged in its "Improving Lives" campaign, educating the public to use loan proceeds for life-changing projects. It emphasises productive lending over consumptive lending. The company has positioned itself as a driver of financial inclusion and empowerment. 

Notable milestones include:

In 2016, Letshego Bank Namibia obtained a full Commercial Banking License.

In 2017, Letshego Holdings Namibia (LHN) was listed on the Namibian Stock Exchange.

In 2018, Letshego Bank Namibia introduced its first banking transactional and savings products to the Namibian market.

In 2021, Letshego Namibia launched a digital banking app and secured a USD 50 million investment from the International Finance Corporation (IFC) to kick-start the development of an affordable housing financing solution.

In 2022, Letshego Bank Namibia launched its first housing loan.

Challenges

Consumption lending - customers borrow money for shopping purposes and not to invest in projects that improve their livelihoods. Hence, customer education is very critical on our agenda.

Way forwarded/future plans for Letshego?

Looking ahead, Letshego remains committed to empowering Namibians through financial literacy and affordable banking services. At Letshego Namibia, we understand that financial resources can achieve economic empowerment. Easy access to credit facilities is instrumental in empowering individuals to build wealth for themselves and Namibia. Letshego Namibia offers the lowest banking transactional products in the market and is also busy rolling out affordable personal loans and overdrafts to all Namibian residents.