Rethabile Pitso
AT least two million maloti has been transacted at First National Bank (FNB) Mohale’s Hoek branch since its establishment one month ago, with at least 100 Basotho so far regularly enjoying services.
The new branch becomes the 12th FNB branch countrywide, following the recently opened Quthing Branch barely two weeks ago.
FNB Head of Retail, Nthabeleng Khoali, revealed this during the bank’s ‘branch-opening’ ceremony held in Mohale’s Hoek on Friday.
Ms Khoali said the reception has by far been a clear indication of a long-standing need for a banking facility in the town, a call which has now been answered with the establishment of the new branch.
She said although the bank had been relying on cash-plus agents to offer banking services, calls for more comprehensive banking services have long been made by clients who had experienced the bank’s reliable services.
“Our Cash-Plus agents have been truly supportive in facilitating services to our Mohale’s Hoek consumers in the absence of a branch and they have demonstrated an outstanding performance executing those services such that demand grew higher, calling for more services.
“We have helped over 100 Basotho since we opened the branch last month on 25 October and around M2 million maloti has exchanged hands during that time.
“M1 million of this has been invested into the bank. The other transactions also have included giving out loans, services our consumers have been longing for.
“For us, this means a continued relationship with our Mohale’s Hoek consumers based on trustworthiness and a shared value for economic growth”, she said.
In his remarks, Mohale’s Hoek Branch Chief Executive Officer, Hlatsoane Masenyetse, said the establishment of a new branch has been in the making for a long time following unrelenting calls from the public requiring access to full services offered by the bank.
“During my tenure at FNB Mafeteng, there has never been a time I was not pressured about when a branch would be extended to Mohale’s Hoek. At the time, our Mohale’s Hoek consumers had to travel to Mafeteng to obtain some services. So, to ease this burden, we finally heeded their call,” he noted.
Mr Masenyetse further expressed the need for financial literacy education among the community, which he said the bank was willing to offer residences.
“Our Mohale’s Hoek branch is open to each and every one of you regarding financial queries. I know many of you have faith in me since I have been a long serving member in the banking sector, but I assure you that, any staff member of FNB will serve you with utmost respect, kindness and provide you with tailor-made solutions to your needs.
“We have a challenge of people who are not good with financial management. We want to hold discussions with you regarding that. This economy is difficult and to overcome that, together we can hold financial literacy discussions to assist Mohale’s Hoek overcome the existing financial challenges”, he said.
In remarks made on behalf of FNB Chief Executive Officer, Delekazi Mokebe, FNB Head of Risk, Ts’epo Mochekele, said the new branch demonstrated the bank’s commitment towards offering financial access to every Mosotho.
Mr Mochekele said the latest initiative was the second of its kind following the establishment of the Quthing Branch just two weeks ago. Now, the Southern region has more FNB branches within weeks.
Applauding the initiative, Central Bank of Lesotho (CBL) Head of Legal, Thabo Moseme, said the branch came with abundant benefits aimed at growing the district’s economy.
Mr Moseme was making the remarks on behalf of CBL Governor, Dr Maluke Letete.
“I will highlight just three benefits among many which this new branch brings: access to loans, access to investment opportunities as well as job creation.
“To business people, this is another opportunity for you to grow your businesses by banking in a safe and convenient environment enabling you access to finance and financial management.
“CBL regards this as a good initiative towards boosting Mohale’s Hoek economy,” he said.
Present at the ceremony to applaud the initiative was Chief ‘Mats’enolo Bereng and the Lesotho Mounted Police Services Head of Investigations, Senior Inspector Nthabeleng Motjamela-Lebeta, who reiterated the efficiency of the bank in offering safe and convenient financial services to Basotho.