Africa-Press – Lesotho. IT’S payday for Ecocash customers in Lesotho.
Econet Telecom Lesotho (ETL), through its financial service Sasai Econet Financial Services (SEFS), said they will pay into each Ecocash subscriber’s account starting tomorrow.
In a press statement the company said the payments are a share of the interest which accumulated between July 2016 and December 2021.
It says in the regulations of the payment systems, it is the duty of Sasai Econet Financial Services to ensure that the earned interest is disbursed to customers who are Ecocash customers.
“It is against this background that Sasai Econet Financial Services will distribute Ecocash interest to qualifying customers accordingly,” it said.
People eligible for interest payment include those who send money to other people and those who send money to other mobile operators.
People who buy goods through merchant payment, buy airtime and bundles as well as those who pay the bills such as electricity, insurances and water are also eligible for the interest payment.
The method which will be used to allocate the interest payment to the customers was approved by the Central Bank of Lesotho.
The company says the interest payment will be calculated on the total value of the transaction from the qualifying activities.
There will be a calculation of the activity at customer level, which will be their contribution to the total value.
Then, the customer’s contribution will be divided by the total value transacted and the derived percentage determines the share of the customer.
Moreover, the total interest earned on the account balances is multiplied by the calculated percentage to determine the share of the customer.
However, the calculation does not take into consideration the amounts of money held as a balance in the customer’s account.
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