Letshego Uganda clarifies on CEO Aijukwe’s fleeing the country over controversial sale of client property

Kampala, Uganda | THE INDEPENDENT | Letshego Uganda Limited has issued a media statement responding to media allegations that its Chief Executive Officer, Giles Aijikwe has fled the country after illegally selling a borrower’s property for his personal gain.

Issued on Jan .31, the statement reads in part: We wish to clarify to all our stakeholders as follows; it is not true that our CEO Mr. Giles Aijukwe fled the country following the sale. He took official leave and will return to run the company at its completion; the impugned property, Block 214, Plot 4773 in Kisasi was properly sold under the Mortgage Act, and regulations there under, where Letshego Uganda exercised its rights as a mortgagee; the property was sold to the highest bidder per the auction.”

The statement further says: “It is therefore not true that our CEO bought the said property through a third party/proxy. We request the general public to treat this story with the contempt it deserves. Letshego remains committed to professionalism and excellent customer experience.”

A source at Letshego told The Independent that since March last year, the company management did all it takes to engage with their client to meet his debt obligations but to no avail. The company was left with one option – to auction the property to recover shareholder funds according to the source – who insisted that the entire process was done legally.

Letshego Uganda Limited is a Tier IV microfinance institution in Uganda offering SME loans, mortgage loans, and education loans, among other forms of lending. It also offers savings accounts. In Uganda, it was founded in 2005 and operates under its parent company – Letshego Holdings Limited based in Botswana.