…As the bank hosts AFI regional learning programme
Moroke Sekoboto
THE Central Bank of Lesotho (CBL) has partnered with the Alliance for Financial Inclusion (AFI) through peer learning, policy sharing and joint capacity-building initiatives to advance financial inclusion.
Their key focus is promoting alternative finance instruments for women-led micro, small and medium enterprises (MSMEs) and unlocking their growth.
AFI is a policy leadership alliance owned and led by central banks and financial regulators in developing countries, working to advance financial inclusion.
Speaking at the opening of a four-day Regional Joint Learning Programme on Alternative Finance Instruments for Women-led MSMEs at the Lehakoe Recreational and Cultural Centre this week, CBL Director of Financial Institutions Supervision, Bafokeng Noosi, said AFI provided a broad platform where members engage as peers and equals to discuss practical ways of advancing financial inclusion.
Mr Noosi said, beyond learning from one another, AFI members mobilised resources and supported countries that require assistance. He noted that CBL joined AFI in 2012 and had remained an active member.
“We are very happy to host this joint learning programme. It provides an opportunity for a country to showcase its work and results to AFI members and, importantly, to its own citizens,” Mr Noosi said.
“We are delighted to be recognised by AFI and to showcase Lesotho’s efforts globally. We are not only presenting our work; we are also learning from other countries. Lesotho was considered relevant on this topic—alternative finance instruments for women-led MSMEs—because, during the tenure of former governor Retšelisitsoe Matlanyane (now Minister of Finance and Development Planning), we made commendable strides in advancing financial inclusion, particularly for women.”
He said Dr Matlanyane spearheaded reforms that ensured women became active participants in the economy. Under the leadership of the current governor, Maluke Letete, CBL has continued to prioritise gender inclusion.
“It is about ensuring that women, youth and the marginalised play a critical role in the economy. We now want them to take a leading role in growing the economy. While access has expanded, the focus now is on meaningful inclusion,” Mr Noosi added.
AFI Head of Policy Management, Audrey Hove, said the alliance was excited to be in Lesotho for the event co-hosted with CBL, noting that alternative finance was a crucial issue for many African countries and beyond.
“We are bringing together regulators and policymakers to discuss alternative financing instruments that can support women-led MSMEs.
“For this event, representatives from 23 African countries are here to exchange ideas on improving access to, and usage of, quality financial services,” Ms Hove said.
She said AFI selected CBL to host the programme because of Lesotho’s demonstrated progress in expanding access to and use of formal financial services by women-led MSMEs.
“From where Lesotho has come from to where it is now, the progress is evident. Leaders from different countries are here to share what has worked, the challenges faced, and the lessons learned. Learning from one another is one of AFI’s flagship services,” Ms Hove said.
She added that inclusive growth cannot be achieved without women.
“We cannot talk about economic development and growth while leaving women behind. We look forward to robust discussions and to Lesotho refining its policies and regulations to better support communities.”
CBL First Deputy Governor, Lehlomela Mohapi, emphasised the need to unlock growth by empowering women-led MSMEs for sustainable development.
“We must change the narrative that positions women as followers rather than leaders.
“Women-led MSMEs are often about survival and remain marginalised. Our goal is to unlock growth, broaden inclusion and leverage alternative forms of finance to expand access,” Mr Mohapi said.
