Lesotho Times

Post Bank introduces loan scheme

MASERU — Lesotho Post Bank has introduced a micro-financing scheme in a move the bank says will help alleviate poverty.
The marketing director at Lesotho Post Bank, Lehlohonolo Moea, told the Lesotho Times this week that the bank started giving out loans to clients beginning this month.
Moea said the bank has in the past five years spearheaded a campaign to offer banking services to the “unbanked” communities mostly in rural Lesotho.
He said it had always been the bank’s plan to offer loans to clients after five years of offering a savings scheme.
The bank is targeting individuals who receive a monthly income.
“We now offer personal loan advancements for people who receive a monthly income,” Moea said.
He said the bank is in the process of introducing other types of credit accounts during the first quarter of this year.
“The loans are for both personal and income generating purposes,” he said.
According to Moea, the introduction of micro loans is part of the government’s poverty relief strategy by offering financial services to traditionally unbanked individuals.
“Poverty alleviation can be through empowering people through offering small loans, and providing savings facilities to the public,” Moea said.
He said the introduction of micro-loans should be good news to the public as there was now a good spread of institutions which offer small loans.
The micro-lending industry serves quite a sizable market in Lesotho that struggles to access loans from more established financial institutions.
For the majority of small businesses in Lesotho accessing financing has been quite a problem because of the strict requirements of local banks.
Lesotho Post Bank, which was set up in 2004, has 12 branches scattered around the country’s districts.

Lesotho Times

Lesotho's widely read newspaper, published every Thursday and distributed throughout the country and in some parts of South Africa.

Contact us today: News: editor@lestimes.co.ls Advertising: marketing@lestimes.co.ls Telephone: +266 2231 5356


Lesotho on Instagram

  • In rural areas men sit by the cattle kraals to
    8 hours ago
  • Views from the highest pub in Africa
    8 hours ago
  • Adventure is callinglatergram lesotho solotravel
    7 hours ago
  • Same picture as before for the annual pilgrimage south This
    7 hours ago
  • Sometimes waking up at 4am is worth it! Sani Pass
    8 hours ago
  • Sani Pass View from the highest pub in Africa sanipass
    8 hours ago
  • African street market     gopro southafrica travel
    6 hours ago
  • The road to Sani Pass entrance to Lesotho sanipass lesotho
    7 hours ago
  • mosi bnw smoke qoaling lesotho monochrome noir maseru smokegetsinyoureyes
    5 hours ago
  • Congratulations on your withdrawal Are you interested in Binary Option
    5 hours ago

Tweet your Feedback

Follow us

Don't be shy, get in touch. We love meeting interesting people and making new friends.

Most popular