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Financial inclusion launched

Nov. 8, 2018 2 min read

2 min read

MASERU - A campaign whose aim is to ensure promotion of financial inclusion from small, medium and large enterprises was launched in Maseru on Friday. The campaign, titled Enterprise Banking Products, is led by Standard Lesotho Bank (SLB).

According to Mrs. Mahlompho Mojakhomo, SLB Head of Business Banking, it is high time that all ventures feel included in issues of banking despite their different annual turnovers. She said it is through the campaign that the bank opted for inclusion of these enterprises through use of different accounts, thus dividing it into three different categories.

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“This we have learned will go a long way in ensuring financial ownership amongst business men and women; as a result, increase the spirit of saving amongst them,” she stressed. Giving a synopsis of the three categories, the Head of Business Banking highlighted that the first category is “Molleloa”, which is meant for small enterprises with a turnover of M300 000 annually. According to her, this type of an account is affordable as it allows businesses to make transactions, deposits and other transactions at a minimum of M60 per month.

The second account is “Letsema”. It targets those in partnership to open an account with free management fee. “Here the society is guided by its constitution and other members view money transactions being made by chosen members online,” she stressed. The third category is where individuals are given a loan of at least M5000 within a period of 24 hours. This she said is meant to boost and support local businesses. SLB, like its competitors locally, aims to arouse the interest of its clientèle with the aim to attract more customers. Amongst other things, the bank also engages in corporate social responsibility as a way of giving back to the society. 

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