LetsGo vs ExpressCredit: which is the best in Botswana

Botswana is seeing a steady shift in how people borrow money. For years, traditional banks held the upper hand, often limiting credit access to those with strong collateral, perfect paperwork, or long financial histories. But that model hasn’t worked for everyone, especially workers on modest salaries, small business owners, or those with urgent needs and no time for bureaucracy.

Among the growing number of players, LetsGo and ExpressCredit have carved out strong reputations. Both offer quick, unsecured loans with user-friendly application processes, but that’s where the similarities end.

LetsGo, the digital arm of Letshego Financial Services Botswana, comes from a 20+ year legacy rooted in financial inclusion. As part of the Letshego Group, which operates in 11 African countries and contributes significantly to Botswana’s credit market, the platform builds on deep experience and credibility.

It focuses primarily on formally employed individuals, especially in the government, parastatal, and private sectors, with a mission to enable productive borrowing for education, housing, and business growth. Through the LetsGo app and web portal, users can apply for loans, top up existing ones, and manage their repayment, all without visiting a branch.

ExpressCredit, on the other hand, represents a newer generation of digital lenders. Founded in 2017 and regulated by the Non-Bank Financial Institutions Regulatory Authority (NBFIRA), it has quickly grown by targeting gaps left by traditional banks, especially for workers in unions like the Botswana Primary Teachers Union.

Backed by a parent company headquartered in Latvia and operating across southern Africa, ExpressCredit delivers loans through multiple touchpoints: mobile agents, physical branches, and an expanding digital presence. Its standout feature is a salary deduction repayment model, which offers structure for borrowers while minimizing defaults.

The rise of platforms like LetsGo and ExpressCredit reflects inclusion. In a country where a large portion of the population still struggles to access formal credit, these apps are becoming a financial means of survival. But not all loan apps serve the same needs. While one may offer faster approvals, the other might provide more flexible repayment. One may cater better to government workers, while the other may be more accessible to small business owners or lower-income earners.

This article explores both platforms: loan offerings, interest rates, eligibility requirements, customer experience, digital innovation, and long-term value. If you’ve ever found yourself unsure about where to borrow or you simply want to get smarter about your options, this comparison is for you.

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Loan products and services

LetsGo, the digital lending platform of Letshego Financial Services Botswana, offers a broad and integrated range of financial services that extends far beyond traditional lending. With a mission rooted in inclusive finance, the platform is designed to support Batswana not only during financial emergencies but also in achieving long-term goals such as owning a home, running a small business, or managing daily expenses more efficiently.

LetsGo provides unsecured personal loans ranging from as little as P250 up to P500,000. These loans are flexible, with repayment terms from 3 to 84 months, making them suitable for a variety of personal needs such as education costs, medical bills, home improvements, or even consolidating existing debt.

The interest rate is designed for each borrower’s credit profile, with a maximum APR capped at 24%. One of the standout features of this offering is the loan top-up option, which allows existing customers to access additional funds through the app without starting the application process from scratch ideal for users who may need a financial boost mid-cycle.

In response to Botswana’s ongoing housing challenges, LetsGo also offers targeted affordable housing loans. These can be used to build, renovate, or purchase a home, providing individuals and families who may not qualify for a bank mortgage with an opportunity to achieve homeownership. The product is especially relevant to low- and middle-income earners, a demographic often overlooked by traditional lenders.

Recognizing the growing role of small-scale entrepreneurship in Botswana’s economy, LetsGo supports micro and small enterprise lending as well. While less heavily promoted than its personal loan offerings, this product provides an important working capital to informal traders, small business owners, and startup entrepreneurs, especially in rural or underserved communities..

ExpressCredit, while newer to the market, has quickly positioned itself as a reliable lender for Botswana’s formally employed population. Its strength lies in a focused lending approach offering flexible personal loans built around salary structures, with quick approvals and multi-channel accessibility through agents, branches, and digital tools.

The company provides both short- and long-term loans designed to suit a range of financial needs. For immediate and urgent expenses, ExpressCredit offers short-term loans of up to P500,000, repayable over 2 to 5 months. These are ideal for covering expenses like rent, school fees, or emergency repairs, without locking borrowers into long-term debt.

On the other end of the spectrum, ExpressCredit also provides long-term installment loans ranging from P2,000 to P365,000, with repayment terms stretching from 3 to 120 months. These are best suited for borrowers looking to make larger investments, such as funding home projects, consolidating debts, or financing major life events.

To ensure financial security for both the borrower and the lender, ExpressCredit also includes Credit Life Insurance with many of its loans. This insurance covers the outstanding loan balance in the event of death, permanent disability, diagnosis of dread disease, income loss, or funeral-related expenses. The benefit limit extends up to P300,000, offering peace of mind that the borrower’s family won’t be burdened by unpaid debt in the case of life-altering events.

LetsGo’s product range makes it more versatile for customers with diverse needs. ExpressCredit’s focus on personal loans with longer repayment terms appeals to those seeking flexibility. The inclusion of Credit Life Insurance by ExpressCredit adds a safety net, while Letshego’s digital platform enhances user convenience.

Interest rates and affordability

LetsGo offers interest rates ranging from 5.25% to 24% per annum, depending on the borrower’s creditworthiness. This rate structure is tiered, with stronger credit profiles qualifying for lower rates. For example, borrowing P50,000 over 72 months at the upper rate of 24% would attract around P48,050 in interest, translating to a monthly repayment of roughly P1,456. The platform allows repayment terms of up to seven years (84 months), offering borrowers a long runway to manage their financial commitments. Longer repayment terms can significantly reduce the monthly burden, making large loans more manageable, though they naturally increase the total interest paid over time.

ExpressCredit also promotes affordability and flexibility, but is less transparent with its interest rate structure. Unlike LetsGo, which clearly publishes its APR range, ExpressCredit does not publicly disclose exact figures. Instead, rates are determined based on individual assessments that include factors like credit history, employment status, and affordability.

This makes it difficult for potential borrowers to calculate costs upfront without engaging directly with a loan officer or agent. However, customer testimonials and internal reports suggest that rates are competitive within Botswana’s microfinance sector, especially for lower-risk borrowers. Rates may be higher for those with riskier profiles, but ExpressCredit offsets this by offering structured repayment models, most notably its salary deduction system, which has helped maintain a low default rate of under 5%. This model ensures timely repayments, reduces lending risk, and can positively influence affordability over the long term.

In terms of loan sizes, both platforms offer substantial flexibility. LetsGo issues unsecured loans between P250 and P500,000, while ExpressCredit’s range begins at P2,000 and also extends to P500,000. However, ExpressCredit tends to segment its products by loan term: short-term loans for urgent needs (repaid within 2–5 months) and long-term loans that can stretch up to 120 months (10 years) for government employees and qualifying private sector workers.

This extended term length gives ExpressCredit an edge for borrowers looking to make large purchases with smaller monthly repayments, though the tradeoff is higher total interest over time.

One major distinction between the two lenders lies in transparency. LetsGo clearly defines its pricing and repayment terms upfront, helping borrowers assess affordability before applying. ExpressCredit, by contrast, adopts a more customized and case-by-case approach, which may appeal to those with less conventional profiles, but also requires a bit more effort from the borrower to get clear figures.

For any borrower, the best approach is to request a personalized quote from both providers. Rates depend heavily on individual circumstances such as income, credit history, employment type, and repayment behavior. What works well for one borrower may be unsuitable for another, and the true cost of a loan only becomes clear when all factors are considered together.

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Eligibility criteria

LetsGo is open to formally employed individuals in the government, parastatal, or private sectors, and it explicitly accommodates low- to middle-income earners, a group that has traditionally struggled to access credit through mainstream banks. Most loan products are available to applicants aged 18 to 65 years, with documentation requirements that typically include valid identification and proof of income. 

ExpressCredit, by contrast, applies a more focused eligibility model. The lender primarily serves permanently employed individuals in both the public and private sectors, with a stronger emphasis on job stability and predictable income. To qualify, applicants must provide evidence of permanent employment, making the platform less accessible to temporary workers, freelancers, or those engaged in informal economic activities.

For products covered under its Credit Life Insurance, the age range also falls between 18 and 65 years, aligning with typical working-age brackets. While this more selective approach helps ExpressCredit maintain a low default rate, it can exclude a sizable portion of Botswana’s workforce, particularly casual laborers and self-employed individuals, who make up a growing but underserved segment of the economy.

For prospective borrowers, understanding these differences is important. If you’re self-employed, casually employed, or earning below the median income, LetsGo may offer more flexibility. If you have a stable, full-time job with a steady paycheck, ExpressCredit might provide more favorable loan terms and repayment structures. Ultimately, both platforms require basic documentation, but your employment type and income level will likely determine which lender is a better fit for your needs.

Regulatory environment and compliance

Botswana’s financial system also sets a benchmark lending rate through the Bank of Botswana, which sits at 6.01% as of February 2025. Now, you might wonder why are LetsGo and ExpressCredit are charging rates higher than that? The answer is simple: micro-lenders take on more risk. They give loans without collateral, often to people who wouldn’t qualify at traditional banks. That means interest rates, like LetsGo’s 5.25% to 24% APR, reflect the extra risk they’re taking on.

Both companies have to be upfront with their pricing, assess whether you can actually afford the loan, and avoid aggressive collection tactics. That’s part of what NBFIRA ensures. And to their credit, both lenders have been playing it smart.

LetsGo, with its long history under the Letshego Group, has kept things stable even through tough periods like the COVID-19 pandemic by managing its debt and spreading risk across different types of borrowers. ExpressCredit might be newer, but it’s made solid moves like offering salary deduction repayments and including credit life insurance to protect customers if something unexpected happens.

That said, regulation isn’t a fixed thing. It evolves. As Botswana’s lending space becomes more digital and more people start borrowing online, NBFIRA and the Bank of Botswana are likely to introduce new rules maybe around interest caps, digital onboarding, or how lenders assess your creditworthiness. If that happens, companies like LetsGo and ExpressCredit may need to tweak their offers or tighten their requirements.

But from a borrower’s perspective, it’s good news. Knowing that these lenders are legally registered, properly regulated, and answerable to financial authorities gives you a layer of protection. You’re not just dealing with some faceless online loan app, you’re dealing with a company that has to follow national laws.

Still, regulation is just one piece. Always take the time to understand the loan terms, ask for clarification if something is unclear, and borrow with your eyes open. Because at the end of the day, even with all the oversight in place, the decision and the responsibility lies with you.

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Sustainability and social impact

When most people think about loan apps, “social impact” isn’t usually the first thing that comes to mind. We’re often more focused on getting approved and sorting out repayments than thinking about whether a lender is doing good in the world. But in today’s financial space, it actually matters. And both LetsGo and ExpressCredit are trying, in their own ways, to be more than just lenders.

LetsGo, through its parent company Letshego, runs a campaign called “Improving Lives.” And it’s not just a slogan. The company backs this up with actual programs that try to tackle bigger issues like housing, education, and financial literacy. For instance, it has developed affordable and green housing loans, helping Batswana build better, more sustainable homes.

It also offers digital training programs aimed at helping customers better understand and manage money using technology. Across its markets, LetsGo conducts regular social impact surveys to get feedback from borrowers, trying to understand not just if people are repaying loans, but if those loans are actually helping them improve their quality of life. It’s a big-picture approach that says: “We’re not just here to lend money. We want you to do well with it.”

ExpressCredit takes a slightly different route but still puts community focus at the center. Its primary mission has always been about financial inclusion, especially for people who often get overlooked, like government employees, teachers, and salaried workers outside major cities.

The company’s products are designed with this audience in mind, and they back it up with practical things like salary deduction repayments and credit life insurance, which provides financial protection for borrowers and their families in case something unexpected happens. ExpressCredit also monitors the impact it has in local communities, although this work isn’t as heavily publicized as LetsGo’s. Still, its relatively low default rate and customer-first policies show it’s focused on lending responsibly.

That said, there’s room for both players to be a bit more transparent. We hear a lot of great goals and promising initiatives, but it’s not always clear how much impact they’re actually having. Are these programs reducing poverty? Are they helping more women start businesses or putting more kids through school? That kind of measurable data is still missing. Hopefully, we’ll see more reporting and research in the future that puts real numbers to the social good these companies claim to be doing.

In the meantime, it’s good to know that both LetsGo and ExpressCredit are thinking beyond profit. They recognize that lending isn’t just about credit scores and repayment plans, it’s also about trust, empowerment, and giving people the tools to build a better life.

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Which one is for you?

LetsGo and ExpressCredit aren’t just competing on rates or repayment terms. They’re solving different problems for different people. One is building a digital ecosystem for long-term financial inclusion. The other is doubling down on reliability and structure for salaried workers who want predictable loans. There’s no one-size-fits-all winner here. Instead, it comes down to how you earn, how you borrow, and what kind of support you expect beyond the money. If you’re deciding between the two, don’t just ask “who’s better?” Ask which one fits the way I live, work, and plan ahead. Because in the end, a loan isn’t just about getting funds. It’s about who you trust to help you move forward without holding you back.