Post Bank, Mukuru sign money transfer deal

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Nthatuoa Koeshe

THE Lesotho Post Bank this week signed an agreement with money transfer organisation Mukuru that will allow Basotho living in South Africa to easily send money into the country.

Speaking at the signing ceremony on Tuesday, Mukuru head of marketing, Manthabiseng Makgotho, said since 2006, her organisation has seamlessly moved funds for its clients across Africa.

She said Mukuru was a platform where financially excluded migrants can move money in a convenient, safe and affordable manner, so that they can fulfil their desire to improve their own and their families’ lives.

“This platform uses the latest mobile and web-based technologies to give our customers the best experience possible in receiving and transferring money,” Ms Makgotho said.

“The partnership with Post Bank is an opportunity for all people in their designated places to send money to their loved ones without worrying about having an account and unwanted charges.”

She however, said for now they are concentrating on inbound transactions.

“Currently, we are only offering inbound services where people can send money into Lesotho but Basotho cannot send money to other countries,” she said.

Molefi Leqhaoe, Post Bank managing director said that the partnership with Mukuru will bring financial inclusion that Basotho have sought for a long time.

“Post Bank wants every Mosotho to have financial inclusion by getting access to useful and affordable services,” Mr Leqhaoe said.

He said the partnership is a dream which took long to come true but said the bank will always work tirelessly to ensure the provision of innovative services for Basotho.

To access the Mukuru services, one has to register into the Mukuru system on their website or dial *130*167# on their mobile phones. He said an SMS will be sent to the receiver whenever money is deposited.

“The recipient of the money has to show the SMS to the bank they get their money,” he said adding that there are will not be any charges paid.

He further noted that the receiver will have to bring with them a form of identification since they also want to ensure security for users.

“Money transfers to Lesotho can be very costly and that is why we brought a solution for everyone. What is left now is for Basotho to get money so as to contribute to the country’s economy,” Mr Leqhaoe said.

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