Uganda, May 4 -- Letshego Africa Holdings is pulling back from five East and West African markets in a decisive portfolio reset, signing binding agreements to sell its operations in Uganda, Ghana, Tanzania, Nigeria, and Rwanda to Dubai-based Axian Digital Venture Holdings and Management.

In a Monday announcement, Letshego noted that Axian will acquire 100 percent of the issued share capital in Letshego Ghana Savings and Loans PLC, Letshego Faidika Bank Tanzania Limited, Letshego Microfinance Bank Nigeria Limited, Letshego Rwanda PLC Limited, and Letshego Uganda Limited. The deal is the clearest signal yet that the Botswana-headquartered lender is doubling down on Southern Africa, where it said it has scale, stronger competitive positioni...