Boliba forays into mobile money

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Bereng Mpaki

BOLIBA Savings and Credit has launched the Mochochonono Mobile Money platform at their Metcash offices in Maseru meant to improve their services especially to clients in remote areas by using cellphones.

The country’s largest multi-purpose cooperative society has mainly provided book-based banking accounts to its predominantly low income clientele.

Mochochono is a Sesotho word meaning the most impressive among shooting stars that illuminate the night skies and Boliba chose the name in the hope that their new service would turn out to be just as impressive.

In her address during the launch event on Tuesday, Boliba Sales and Marketing Manager, ‘Mamoeketsi Mabusa, said the new platform linked clients’ accounts with their cellphones to give them access to various services on their cellphones.

She said the service would initially allow clients to check their account balances, transfer funds internally and pay other Boliba members, while other functions including the paying of electricity bills, water bills, insurance and DSTV accounts would be added in due course.

“This offering was introduced to bring quicker services to our remote customers. Our customers will now be able to access their banking accounts from the comfort of their homes to enable them to carry out inter- account transfers as well as receiving SMS notifications when funds have been deposited into their accounts,” Ms Mabusa said.

Boliba staff also took advantage of the launch to educate clients on how to register and operate the new service.

She said the SMS notification was particularly useful as it saved clients the expenses involved in traveling to Boliba centres to make inquiries about their account balances.

Ms Mabusa also said they would stage a fun walk on the 27th of November to promote the new service.

The event also served to officially launch the company’s website: www.boliba.co.ls, to enhance interaction with clients as well as market products and services.

The company has been on a digital transformation agenda since 2013 with the aim of improving services.

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