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Micro financier revels in exceptional service

by Lesotho Times
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Bereng Mpaki

THUSONG Financial Services (TFS) says it owes its reputation of exceptional customer service to its clients’ loyalty.

The Maseru-based microfinance institution also has branches in Leribe and Mafeteng and provides quick personal loans which can be disbursed within four hours of application.

This micro finance institution was established in 2011 and offers micro loans from as little as M500 up to M30 000 payable from three months up to three years.

TFS managing director, Montoetsane Nchai, told the Lesotho Times this week that his company also prides itself in offering some of the most affordable interest rates in the market.

“Affordability and customer care are our key strengths as an organisation,” Mr Nchai said.

“You can browse through existing micro finance companies and I doubt you can find any one offering cheaper loan interest rates than us. We can offer interests that are as low as seven percent per month.”

He said the company is also well known for its friendly service to clients.

“We have good customer care because we always get positive feedback from our clients. We have not been actively marketing our services to the market since we started except through word-of-mouth recommendations from our satisfied clients.

“So, the majority of our market penetration can be attributed to our exceptional customer service. However, we intend to supplement by engaging in regular marketing through media platforms such as radio, newspapers and social media. We also have a unique advantage of our ability to consolidate or takeover loans held with different service provider for the convenience of our clients. This is significant because other companies out there do not offer such a service.”

Operations manager Tlali Tšoafo said their loans can be applied for using online platforms such as email and WhatsApp for customer convenience.

“We have online application platforms to reduce the costs associated with travelling from remote parts of the country to get to our offices just for an application that can ultimately be rejected.”

Mr Tsoafo said requirements for the loan application include two recent pay slips, three months’ bank statements, employment confirmation and the identity document.

The company’s primary target market is predominantly government employees and corporates which whom they can arrange stop orders.

Although they are currently serving people in formal employment, efforts are being made to include the under banked and unbanked populations, Mr Nchai said.

The company prides itself in understanding the financial legal framework owing to its long-standing experience in the field. Its service provision also aligns with the echoing call for financial inclusion by the Central Bank of Lesotho (CBL) for all and easy access to credit. These of course come as a direct effort to boost small businesses and rescue the seriously ailing economy exacerbated by the effects of Covid-19.


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