{"id":5642,"date":"2021-11-09T10:34:42","date_gmt":"2021-11-09T10:34:42","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/mobile-money-commended-for-significant-contribution-to-economy"},"modified":"2021-11-09T11:29:23","modified_gmt":"2021-11-09T11:29:23","slug":"mobile-money-commended-for-significant-contribution-to-economy","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/mobile-money-commended-for-significant-contribution-to-economy","title":{"rendered":"Mobile money commended for significant contribution to economy"},"content":{"rendered":"

Africa-Press – Lesotho. <\/strong><\/span>Mobile money was hailed high for significantly contributing to the economy of Lesotho and even acknowledged as a key factor towards the country\u2019s digital<\/p>\n

economic growth. This was revealed during one of the Money Week celebration meeting last week. Despite the Global Money Week (GMW) celebrated from March 22 to 28, Lesotho is<\/p>\n

observing it through a series of fora where leaders from insurance companies, banking industry and development partners will engage in financial related<\/p>\n

matters from April 19 to May 30. Vodacom Lesotho Acting Managing Director Commercial Travis Goate said as a mobile financial provider, they are committed to participating in all financial<\/p>\n

literacy initiatives to help increase public awareness on the benefits of financial inclusion as well as financial education. Goate further said over the<\/p>\n

last decade, mobile money has been disrupting traditional financial services in transforming the lives of hundreds of millions of people across Africa.<\/p>\n

He said today mobile money has evolved into broader payment platforms and solutions and it has enhanced services such as health care, employment, education, transportation and many more.<\/p>\n

He said at a micro level, mobile money fills economic growth by facilitating savings, investments, creating employment, business productivity and entrepreneurship.<\/p>\n

\u201cIt is becoming a gate way to the digital economy as a nation such as Lesotho is becoming dependent on digital technology,\u201d he said.<\/p>\n

He said mobile money continues to be used for payment to people living in hard to reach areas and many businesses depend on it for payments. Econet Telecom Lesotho (ETL) Acting General Manager Econet Services \u2018Makatleho<\/p>\n

Raphoolo stated that mobile money is significant in financial inclusion since it is easily accessible. She said the advent of mobile money has brought<\/p>\n

positive impact to Basotho in regard to financial inclusion. \u201cAll that is needed to use mobile money is a smart phone,\u201d she added. Mobile money is key towards Lesotho\u2019s digital economy journey since it facilitates<\/p>\n

payments of e-government services and other utilities, there are services where a person pays for spotfine with mobile money. She said mobile money makes<\/p>\n

access to financial services possible which is what all the countries are working towards making sure that the nation gets financially included and ensure<\/p>\n

digital transformation for the whole country. Raphoolo said mobile money service was introduced to increase the level of financial inclusion through accessible and affordable solutions.<\/p>\n

\u201cThis was brought on by the challenges in the market that were identified where sending money to anyone<\/p>\n

was really through unreliable channels. For instance taxi drivers would be given money to drop off and this introduced security challenges especially while carrying a lot of money,\u201d she said.<\/p>\n

Raphoolo added that the turnaround time was also an issue as a person had to travel from one place to another thus incurring traveling expenses. She said mobile money is efficient, reliable and with instant transactions. \u201cIt is also cheaper than the banks,\u201d she added.<\/p>\n

For More News And Analysis About Lesotho<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Lesotho. Mobile money was hailed high for significantly contributing to the economy of Lesotho and even acknowledged as a key factor towards the country\u2019s digital economic growth. This was revealed during one of the Money Week celebration meeting last week. Despite the Global Money Week (GMW) celebrated from March 22 to 28, Lesotho […]<\/p>\n","protected":false},"author":84,"featured_media":5641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,246,1108,686,245],"class_list":["post-5642","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-commended","tag-economy","tag-lesotho"],"yoast_head":"\nMobile money commended for significant contribution to economy - Lesotho<\/title>\n<meta name=\"description\" content=\"Mobile money was hailed high for significantly contributing to the economy of Lesotho and even acknowledged as a key fac ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/mobile-money-commended-for-significant-contribution-to-economy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mobile money commended for significant contribution to economy\" \/>\n<meta property=\"og:description\" content=\"Mobile money was hailed high for significantly contributing to the economy of Lesotho and even acknowledged as a key fac ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/mobile-money-commended-for-significant-contribution-to-economy\" \/>\n<meta property=\"og:site_name\" content=\"Lesotho\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-09T10:34:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-09T11:29:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/11\/img-618a5b74d06d4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"959\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/mobile-money-commended-for-significant-contribution-to-economy#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/mobile-money-commended-for-significant-contribution-to-economy\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mobile money commended for significant contribution to economy\",\"datePublished\":\"2021-11-09T10:34:42+00:00\",\"dateModified\":\"2021-11-09T11:29:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/mobile-money-commended-for-significant-contribution-to-economy\"},\"wordCount\":501,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/mobile-money-commended-for-significant-contribution-to-economy#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/11\/img-618a5b74d06d4.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Lesotho\",\"commended\",\"economy\",\"Lesotho\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/lesotho\/all-news\/mobile-money-commended-for-significant-contribution-to-economy#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/mobile-money-commended-for-significant-contribution-to-economy\",\"url\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/mobile-money-commended-for-significant-contribution-to-economy\",\"name\":\"Mobile money commended for significant contribution to economy - 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