Vodacom Lesotho, through its wholly owned subsidiary, VCL Financial Services (VCL FS), joined the official launch of the 2024 Money Month, which took place in Mohale’s Hoek on Thursday this week. The launch was officiated by the Governor of the Central Bank of Lesotho, Dr Maluke Letete.
Money Month is an annual campaign championed by the Central Bank of Lesotho in collaboration with all financial services providers registered with the bank. Its aim is to raise public awareness on the importance of financial literacy and maintaining smart money management habits. This year’s theme is “protect your money, secure your future.”
In his remarks, Dr. Letete said the initiative was designed to educate Basotho on how to manage their finances effectively as the repercussions of mishandling money can be devastating. He noted instances where poor financial habits had led to overwhelming debt, pushing individuals to extreme measures such as suicide. He further emphasized the importance of staying vigilant against fraudulent schemes like bogus investments, financial fraud through mobile payment services, pyramid schemes and cybercrimes. He urged the government to accelerate the digitization of government payments to combat corruption and improve public accessibility.
Representing mobile money service providers, VCL FS’s Product Manager, Mpho Mosotho said mobile money services offer a secure way of transferring money, unlike the traditional method of sending cash in envelopes, often through public transportation. Mosotho also advised individuals to refrain from sharing their mobile money wallet PINs, and to exercise caution when receiving text messages that appear to be from financial institutions, including mobile money services.
Throughout the month, there will be a range of workshops, public gatherings and social media tips aimed at promoting financial literacy. Vodacom Lesotho is part of the campaign because of its commitment promote financial inclusion across the nation.
