Maseru, July 7 — The National University of Lesotho (NUL) in partnership with the Central Bank of Lesotho (CBL) has launched a structured financial literacy programme aimed at equipping Basotho with the knowledge and skills needed to make informed financial decisions.
Providing an overview of the initiative, the Head of Corporate Affairs at the Central Bank of Lesotho, Mr. Napo Rantsane said that the programme was developed in response to the growing number of financial consumer complaints received by the bank.
He explained that many of the complaints arise because consumers enter into financial agreements without fully understanding the terms and conditions of the contracts they sign.
Mr. Rantsane delineated that the Central Bank established a Financial Consumer Protection Department to receive complaints, mediate disputes and assist consumers in resolving issues with financial service providers, however, the bank realised that public awareness campaigns alone were insufficient to address the widespread lack of financial knowledge.
He noted that although initiatives such as Money Month and other public education campaigns had reached various groups, including civil servants and salaried employees, a more sustainable and structured educational approach was needed.
This, he said prompted the Central Bank to engage the National University of Lesotho to develop a comprehensive financial literacy programme, adding that the programme has since been approved by the Council on Higher Education and is now ready to be offered by the university.
Speaking at the launch, the Governor of the Central Bank of Lesotho, Dr. Maluke Letete said that the financial literacy initiative demonstrates how partnerships between institutions can address real challenges affecting Basotho.
He described the programme as an important intervention that will improve the financial well-being of the nation and commended the collaboration between the Central Bank and the National University of Lesotho as a reflection of their shared commitment to finding practical solutions that contribute to national development.
Dr. Letete also thanked all stakeholders who attended the launch, with special appreciation to members of the media for helping to disseminate information about the initiative to the public.
On the other hand, the Vice Chancellor of the National University of Lesotho Professor Olusola Fajana said that the programme marks the culmination of a meaningful partnership between the university and the Central Bank, underscoring the importance of collaboration between academia, government and industry in addressing national development priorities.
He said that universities remain relevant only when they respond to the needs of society and work closely with stakeholders to provide practical solutions to emerging challenges.
The Vice Chancellor commended the Department of Statistics and the Dean for responding to the Central Bank’s call to undertake impactful studies and develop programmes that directly benefit Basotho.
He also thanked the Central Bank for recognising the university’s expertise and entrusting it with the responsibility of delivering the programme.
The Certificate in Personal Finance Management Programme forms part of ongoing efforts by the National University of Lesotho and the Central Bank of Lesotho to strengthen financial literacy and promote inclusive economic development in the country.
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