Axian Digital Venture Holding and Management Limited, the group behind Yas mobile operator, is set to acquire 100% of Letshego Faidika Bank Limited, a licensed Tier II commercial bank in Tanzania.The transaction has been notified to Tanzania’s Fair Competition Commission (FCC), which is currently reviewing the deal.This acquisition is part of Letshego Africa Holdings’ plan to divest its subsidiaries in Ghana, Tanzania, Nigeria, Rwanda, and Uganda.The deal aims to strengthen Axian’s financial services platform by adding a banking license to its existing mobile money operations.The FCC has invited public comments on the potential impact of the acquisition on competition in Tanzania’s banking sector.

Axian’s move reflects its strategy to expand its pan-African financial services network, while Letshego Group’s CEO emphasized the sale’s role in improving capital efficiency and strengthening the group’s balance sheet.The transaction remains subject to regulatory and stock market approvals, marking a significant step in Tanzania’s banking landscape.