FOR generations, community savings groups known as mekhatlo have formed the backbone of financial resilience for many Basotho households. From rural villages to urban centres, these informal societies have enabled members to pool resources, support one another during hardships and finance essential needs such as school fees, groceries, farming inputs and small businesses.
Despite their importance, the traditional management of mekhatlo funds has often presented significant risks. Contributions were typically collected in cash and kept by treasurers at their homes, sometimes hidden under mattresses or stored in cupboards. This system left groups vulnerable to theft, accidental loss through fires, or poor record-keeping—issues that have, over time, led to disputes and mistrust among members.
In response to these longstanding challenges, Sasai Econet Financial Services (SEFS), a sister company of Econet Telecom Lesotho, introduced the EcoCash Mekhatlo Account in 2023. The initiative is designed to modernise how savings groups operate by offering a secure, transparent and convenient digital platform.
Since its launch, the EcoCash Mekhatlo Account has steadily gained traction across Lesotho, providing a practical solution to the vulnerabilities associated with cash handling.
One such beneficiary is a savings group led by ‘Mathabo Sehloho from Sehlabeng sa Thuathe in Berea. Her society, which has been in operation for several years, previously relied entirely on physical cash transactions and handwritten records.
“Before EcoCash Mekhatlo, keeping track of contributions was not always easy. Sometimes money would be stored at someone’s house because we had no alternative, and that created anxiety among members,” Ms Sehloho said.
She noted that the introduction of the digital account has significantly improved accountability within the group.
“Now every transaction is visible. Members can track contributions and withdrawals, and that has strengthened trust within the group. People feel more secure knowing the money is no longer being kept in someone’s home.”
The EcoCash Mekhatlo Account enables members to make contributions conveniently via EcoCash, while group leaders can monitor balances and transactions in real time. This transparency not only enhances trust but also reduces the need for frequent physical meetings, saving members both time and transport costs—particularly benefiting those in remote areas.
SEFS General Manager, Moeketsi Mafereka, said the product was specifically designed to preserve the cooperative spirit of mekhatlo while introducing modern financial safeguards.
“Mekhatlo have always played a vital role in Basotho communities. Through the EcoCash Mekhatlo Account, we wanted to provide a secure and transparent solution that empowers these groups and strengthens financial inclusion,” he said.
He added that the continued expansion of EcoCash services is supported by Econet Telecom Lesotho’s extensive network coverage across all ten districts, ensuring that even the most remote communities can access digital financial solutions.