Africa-Press – Lesotho. AMID challenging economic times, Nedbank Lesotho’s performance is faring better comparative to operations in neighbouring South Africa. Group CEO Mike Brown said this during his visit to Lesotho last week.
Brown noted that times are tough for businesses, making it difficult for them to grow. He cited political instability and policy uncertainty as among the key factors constraining investors from investing and growing the economy.
Even though economic growth is said to be at a low, Brown said Nedbank will continue to cater for its clients’ needs and provide them with a good banking experience such as aligning operations to latest technological advancements.
The bank, he said, has invested M2 billion on new technologies so far. He stated that digitisation is critical for the banking industry and Nedbank’s clients should expect more products.
Finance Minister, Dr Moeketsi Majoro, urged banks to consider investing in tourism. He stated that the government has already taken an initiative through the economic labs project to bring investors and entrepreneurs together.
The new CEO of Nedbank, Nkau Matete, said it is high time the private sector takes matters into their hands and not wait for the government. “The government will find us on the way after sorting itself out. What we need to do is grow this economy,” Matete said