The CEO driving Letshego Namibia’s $360 million financial empire

Key Points

• Ester Kali has led Letshego Namibia’s transformation into a $360-million financial powerhouse, championing financial inclusion.
• Under Kali’s leadership, Letshego Namibia acquired a banking license, listed on the stock exchange, and raised capital to broaden financial services across 17 branches.
• Kali’s strategic vision includes empowering small businesses and individuals with loans and aligning Letshego’s initiatives with Namibia’s national development goals.

Ester Kali is elevating financial inclusion in Namibia, solidifying her reputation as a transformative leader in the banking sector. As CEO of Letshego Namibia, she is driving innovation and strategic growth, leveraging over 25 years of experience to champion financial empowerment and inclusion, especially for underserved communities.

Since taking the helm in 2014, Kali, 57 has transformed Letshego from a micro-lender into a full-service financial institution with over $360 million in assets as of 2023. Her strategic vision led to the company acquiring a banking license in 2016, expanding its offerings from consumer lending to deposit-taking, a pivotal development in Namibia’s financial landscape.

Kali’s strategic leadership at Letshego Namibia

Armed with a Financial Services Advanced Diploma and Credit Diploma from the Institute of Bankers South Africa and an MBA in Strategic Management from the Maastricht School of Management, Kali has built a distinguished career in Namibia’s financial sector.

Before joining Letshego, she held leadership roles at First National Bank (FNB) Namibia, where she served between 2011 and 2014 as Head of Retail and Business Banking. During her tenure, she played a crucial role in shaping operational risk management strategies, enhancing customer service delivery, and strengthening the bank’s retail operations.

Beyond her corporate role, Kali has been a key figure in shaping Namibia’s banking ecosystem. She chaired the Payments Association of Namibia (PAN) from 2006 to 2008, where she was instrumental in developing the country’s National Payments System Vision 2015. She also served as a member of the Executive Committee for the Institute of Bankers Namibia from 2012 to 2014.

Letshego’s financial growth under Kali’s leadership

Since Ester Kali assumed leadership, Letshego Namibia has evolved into one of the country’s most dynamic financial institutions, with a market capitalization of NAD3 billion ($159 million). The company, initially launched as Edu Loan Namibia in 2002, was acquired by Botswana Stock Exchange-listed Letshego Holdings Limited (LHL) in 2008, setting the stage for its expansion.

Under Kali’s leadership, Letshego Namibia was listed on the Namibia Stock Exchange in 2017, raising capital through its ‘Ekwafo Letu’ public offering, which engaged over 75,000 Namibians in financial literacy and investment awareness programs. Today, the institution serves over 50,000 customers, with a branch network spanning 17 locations, including six full-service banking branches.

Kali has also championed digital transformation, leading the rollout of the “Phygital” strategy, which integrates physical branches with digital banking solutions. Through mobile banking, internet banking, and card-based transactions, Letshego is broadening access to financial services for Namibia’s underserved communities.

A champion of financial inclusion and economic empowerment

Beyond her corporate achievements, Kali has been a vocal advocate for financial literacy and responsible lending. Under her leadership, Letshego has disbursed an estimated NAD3 billion ($159 million) in loans, empowering individuals and small businesses.

As part of the company’s Strategic Social Investment (SSI) initiatives, Kali has aligned Letshego’s mission with Namibia’s Harambee Prosperity Plan, ensuring financial services contribute to national development goals.

Kali’s leadership continues to inspire transformation in Namibia’s banking sector. As Letshego Namibia expands its footprint and digital offerings, she remains at the forefront of inclusive finance, innovation, and sustainable economic growth, setting new standards for the industry.