…as it eyes greater financial inclusion
Makananelo Manamolela
THE Lesotho PostBank (LPB) has officially opened its new branch at Maseru Mall in a move aimed at expanding financial inclusion and bringing banking services closer to Basotho.
The launch of the branch was led by the Minister of Communications, Science, Technology and Innovation, Honourable Nthati Moorosi, together with the Governor of the Central Bank of Lesotho, Dr Maluke Letete, who described the development as an important milestone for economic growth and broader access to financial services.
Addressing guests during the launch, Ms Moorosi congratulated the LPB board, management, staff and stakeholders for bringing the project to fruition.
“My plea is that this new branch offers more than just a beautiful space. May it represent growth, investment and confidence in our economy,” she said.
She said the opening of the branch demonstrated a commitment to bringing financial services closer to Basotho and creating opportunities for individuals, families and businesses to achieve their aspirations.
“If this bank makes profits, those profits belong to Basotho. That money contributes to buying medication and supporting national needs. Therefore, the success of the bank means life for Basotho and for the country,” she said.
The minister challenged the bank’s leadership to introduce products tailored to small entrepreneurs to enable them to access financing and grow their businesses.
“It is time that we, as a country, have a bank of our own. With this bank, it is my prayer that we continue expanding until it becomes a development bank, as was initially envisioned,” she said.
She also urged the bank to strengthen follow-up mechanisms to assess the impact of loans issued to entrepreneurs.
“We need to know how many businesses have grown and how far they have developed after receiving support because there is still a gap in that area,” she said.
Speaking at the same event, LPB Managing Director, Mopeli Mokhachane, described the new branch as more than a physical structure.
“This branch represents presence, progress and possibility,” Mr Mokhachane said.
“It says to the business owner: we are closer to you; to the young professional: we walk with you; to families working towards a better future: your goals matter; and to those who have never had a bank account or have banked elsewhere: this bank was built for you too.”
He said LPB’s identity was deeply rooted in serving Basotho.
“At Lesotho PostBank, we are not just a bank operating in Lesotho; we are a bank of Lesotho and a bank for Basotho,” he said.
According to Mr Mokhachane, banking goes beyond transactions.
“Banking is about dignity, opportunity and inclusion. When we speak about banking the nation, we are speaking about real people — the vendor, the farmer, the entrepreneur and hardworking Basotho across every corner of our country who deserve access to financial services.”
He said the opening of the branch should not be viewed as the final destination but rather another milestone in the bank’s growth journey.
Mr Mokhachane said establishing a presence at Maseru Mall was a strategic decision aimed at positioning the bank where people conduct their daily lives.
“A bank of today must meet people where they are. Being local is not a limitation; it is our strength,” he said.
He added that the bank understood its clients and designed products around their needs.
“We pledge to make clients feel at home and respected in the way Basotho value respect and service.”
He thanked staff members for their continued commitment and acknowledged partners for their support.
“We are building a bank that serves with humility, competes with confidence and leads with purpose,” he said.
Meanwhile, Dr Letete, emphasised the importance of ensuring the long-term sustainability of the institution through strong governance and prudent management.
He said Lesotho had experienced painful banking failures in the past, including the collapse of institutions such as the Agricultural Bank and Lesotho Bank.
“This bank was resuscitated in 2004 after it had collapsed. It is important that it is managed properly because many institutions failed due to mismanagement,” Dr Letete said.
“It is time that we maintain financial stability to protect clients’ deposits and move away from the painful history of banking services in this country.”
He encouraged Basotho to support and utilise LPB in order to strengthen and grow the institution.
The Maseru Mall branch becomes the LPB’s 18th branch nationwide.
