Frederick Mmelesi, former Letshego Financial Services Botswana (LFSB) Chief Executive, this week resumed his new role as Letshego Group Head of Consumer Solutions, whilst Boikhutso Tekane takes on LFSB as the new CEO, according to the Group announcement.
Fred’s Group leadership role is in line with the Letshego strategy to enhance its future capability model by appointing top talent to leadership positions.
In this role, Fred provides oversight assistance to the CEOs of Letshego Botswana, Lesotho and Swaziland operations, together with driving retention and growth of formal sector business across the Group. Letshego’s consumer solutions include its core business of lending to formally employed customers both in the public and private sector, as well as savings, micro-insurance and related solutions. Prior to joining Letshego, Fred earned a wealth of finance experience from various organisations which he served in different capacities.
His 20-year career spanned from Grant Thornton Acumen, a finance role at the BSE-listed Cash Bazaar Holdings, followed by another finance role at Boart Longyear, an Anglo-American subsidiary. Having joined Letshego in 1999 as a Financial Administration Manager, Fred grew through the ranks to lead Letshego Botswana as its longest-serving CEO, through to his current position of Group Head of Consumer Solutions.
Through Fred’s leadership, and working closely with a team of close to 400 Batswana, the expansion programmes of Letshego Botswana have seen the company disburse P6 billion to 120, 000 civil servants, while continuously enhancing the solutions being delivered. Meanwhile, Boikhutso Tekane, affectionately known as “Tee Kay”, is a qualified business professional with a Bachelor’s Degree in Accounting and Economics plus an MBA - both acquired from the University of Botswana.
He has built an impressive career in corporate and retail banking spanning over 23 years. He has worked at various commercial banks including Barclays Bank, Standard Chartered Bank and Stanbic Bank. Also, he has extensive experience in entrepreneurial development – most significantly, he has led the establishment of businesses in the mining sector.
Prior to joining Letshego, Tee Kay was the CEO of Botswana Savings Bank (“BSB”), where he influenced and delivered the bank’s turnaround strategy that saw the Visa debit card and a nationwide network of ATMs successfully launched. Also, he enhanced this broader access network through branch additions. During his tenure at BSB, the bank achieved business growth and sustained results. At Letshego Botswana, Tee Kay is tasked to deliver on the subsidiary’s strategic objectives. These encompass its financial performance, stakeholder engagement and people commitment in line with group strategy.