{"id":4167,"date":"2021-10-08T11:18:30","date_gmt":"2021-10-08T11:18:30","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/nedbank-lesotho-celebrates-20-years"},"modified":"2021-10-08T12:01:46","modified_gmt":"2021-10-08T12:01:46","slug":"nedbank-lesotho-celebrates-20-years","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/nedbank-lesotho-celebrates-20-years","title":{"rendered":"Nedbank Lesotho celebrates 20 years"},"content":{"rendered":"

Africa-Press<\/a> – Lesotho<\/a>. <\/strong><\/span>TWENTY years ago, Nedbank Lesotho opened its doors to the public. It only had three branches. From those small beginnings, the bank has now grown into a dominant player in the financial services sector.<\/p>\n

It now has 10 fully fledged branches offering top-notch services to its clients. It was therefore fitting that last Thursday, the bank celebrated its 20-year anniversary at a glittering ceremony in Maseru.<\/p>\n

Nedbank Lesotho Managing Director, P J Bouwer, said the bank is now the second largest bank in terms of its asset base. \u201cSo far it is the only bank that opens on Sundays and the first bank to launch internet banking when banking services were limited to branches only,\u201d Bouwer said.<\/p>\n

\u201cWe were the first and only bank with a locally managed credit card.<\/p>\n

\u201d
\nThe bank also financed the construction of Pioneer Mall, Lesotho\u2019s first mall.<\/p>\n

\u201cAll of what we have done affirms our commitment to do good for the people,\u201d Bouwer said.<\/p>\n

Speaking on behalf of clients, former foreign affairs minister and diplomat, Mohlabi Tsekoa, said it has been a glorious journey since he first joined Nedbank in 1997 when it was launched.<\/p>\n

\u201c1997 to 2017 has been a glorious journey and a journey travelled with a provision of quality services with leading banking business in the Kingdom,\u201d Tsekoa said.<\/p>\n

\u201cNor shall we forget that that journey was not free of challenges, the challenges of a changing socio-economic terrain, of impending socio-political environment and sometimes of a struggling economy,\u201d he said.<\/p>\n

Tsekoa said Nedbank travelled this journey amidst those challenges. \u201cThe massive challenge is of building teams. You cannot lead a respectable private institution if you do not have winning teams,\u201d Tsekoa said.<\/p>\n

The bank should continue doing a good job as it has done for the past two decades, he said. Tsekoa said the work of leading an efficient banking system in Lesotho and ensure there is diversification within the banking environment is not easy.<\/p>\n

Tsekoa said there is still room for improvement for the bank as it has no branch in Mokhotlong. \u201cOne time our family was unveiling a tombstone. Because there is no Nedbank in Mokhotlong, I had to travel to Butha-Buthe to cash the cheque to finish off the business in Mokhotlong,\u201d Tsekoa said.<\/p>\n

Tsekoa said Mokhotlong is the economic hub of the country because of its \u201cwool and mohair, diamonds and now the construction of Polihali dam is coming up\u201d.<\/p>\n

\u201cReally, on behalf of people in Mokhotlong, we need the bank,\u201d Tsekoa said.<\/p>\n

\u201cNedbank should not just be a bank of Maseru, Leribe, Mafeteng but should be a bank of Lesotho,\u201d he said.<\/p>\n

\u201cBanks should accept that innovation is the only way forward. In a ruthless competitive world that we live in today and in the banks there is no exception. This should be done in order to equal or surpass those working in the business with you,\u201d Tsekoa said.<\/p>\n

The Minister of Finance, Moeketsi Majoro, said the banking sector has a concept of \u2018know your client\u2019 which means that the bank must know the client that walks through its door.<\/p>\n

\u201cBut in Lesotho the clients are not walking through the door but are outside,\u201d Majoro said.<\/p>\n

\u201cKnow the demographic situation of the client. Many of the people who are going to end up as entrepreneurs are primary and high school drop-outs,\u201d he said.<\/p>\n

\u201cThey do not have the normal skills that make it easy for (them to get) jobs but they are hustlers.<\/p>\n

Know that the 20 big borrowers of the bank are not the people who have gone long into school,\u201d he said. \u201cYou would have known your clients through this.<\/p>\n

\u201d
\nMajoro said Nedbank should be innovative moving forward. He encouraged Nedbank to create more partnerships especially in the borrowing space.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Lesotho. TWENTY years ago, Nedbank Lesotho opened its doors to the public. It only had three branches. From those small beginnings, the bank has now grown into a dominant player in the financial services sector. It now has 10 fully fledged branches offering top-notch services to its clients. It was therefore fitting that […]<\/p>\n","protected":false},"author":84,"featured_media":4166,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,246,245,533],"class_list":["post-4167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-lesotho","tag-lesotho","tag-nedbank"],"yoast_head":"\nNedbank Lesotho celebrates 20 years - Lesotho<\/title>\n<meta name=\"description\" content=\"TWENTY years ago, Nedbank Lesotho opened its doors to the public. It only had three branches. 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