Moroke Sekoboto
THE Sasai Econet Financial Services (SEFS), a subsidiary of Econet Telecom Lesotho, has upgraded its mobile money platform, EcoCash, to deliver a better, faster, and safer experience for customers.
The transition also aims to establish a robust platform capable of supporting innovation and long-term growth.
SEFS General Manager, Moeketsi Mafereka, reflected on the evolution of EcoCash Spache-fono since the company migrated to the new system in October 2024.
Speaking at a press conference held at Lancers Inn this week, Mr Mafereka described the migration as one of the most significant upgrades in EcoCash’s history. He acknowledged that the process was not without challenges and had at times caused considerable inconvenience to customers and stakeholders but was now very stable.
Mr Mafereka extended a heartfelt apology for the disruption and expressed appreciation to all stakeholders – including clients, agents, merchants, and billers — for their continued support throughout the transition.
“I am proud to stand here today to say: EcoCash is now stable, stronger, and ready for the future. The key objective for migrating EcoCash to a newer system was clear: to deliver a better, faster, safer experience for our customers and to build a platform that can support innovation and growth for years to come,” he said.
He also said several key improvements had already been implemented, while others were set to be introduced soon. Among the current enhancements was the introduction of Mokhatlo services on the EcoCash App.
Mr Mafereka explained that many Basotho belong to stokvels, savings clubs, and burial societies, and previously, managing these groups was difficult.
“Now, Mokhatlo services are fully integrated into the EcoCash App, allowing members to pay their contributions directly into Mokhatlo accounts, monitor transactions in real-time, and avoid the risks and delays associated with manual collections.
“Previously, managing these groups could be difficult. Now, Mokhatlo services are fully available on the EcoCash App. This allows members to pay their contributions directly into Mokhatlo accounts, monitor transactions in real-time, and reduce risks and delays associated with manual collections.”
He also pointed out that enhanced payroll capabilities will now benefit businesses and employers.
“Businesses can process salaries efficiently via EcoCash, manage employee payments directly from their business accounts, and reduce paperwork. This not only saves time but also improves transparency and security in salary disbursements,” he said.
Mr Mafereka said customers security while transacting remained a top priority.
“We have introduced improved fraud detection and stronger authentication processes to protect every EcoCash wallet. This means customers’ money and personal information are now safer than ever before.”
Additionally, the upgraded self-service portal empowers business clients to manage their EcoCash services conveniently.
“Our clients can now independently manage their EcoCash services through a dedicated portal. It allows them to view and download reports, initiate payments, and manage multiple accounts in real-time, all without visiting a branch.”
He also announced a long-anticipated feature: interest payouts to EcoCash wallets.
“We’re thrilled to share that soon we’ll be unlocking interest payouts on EcoCash. Eligible customers will start receiving interest directly into their wallets. This is not just a financial service — it’s a reward for loyalty and for trusting EcoCash as your everyday financial partner.”
Mr Mafereka reiterated SEFS’s commitment to innovation and customer-centric service.
“We’re already working on rolling out more innovative services. Our goal is to make EcoCash not just a wallet, but an essential part of everyday life. We are rebuilding stronger bonds with our customers, introducing products that unlock new opportunities, and continuously innovating to meet the evolving needs of individuals, businesses, and communities across the country.”
