Maseru – Central Bank of Lesotho CBL Acting Governor, Dr. Masilo Makhetha has urged the public to join forces with the financial industry to reform the financial sector.
Officially launching money week campaign in Maseru Dr. Makhetha said there is need for the public to strengthen their capacity to know and access a range of quality services provided by diverse financial service providers and other licensed financial institutions.
He added that children, youth and adults should work jointly with the financial sector to promote financial literacy so the society can be enlightened about their financial affairs from among others, investment and retirement savings, budgeting and spending of earned money. Dr. Makhetha added that the theme of the campaign, ‘take part, save smart’ came at an opportune moment when criminals want to take advantage of the ignorance of some members of the public about financial issues.
He said some criminals promote illegal investment schemes which are intended to defraud the public by luring them to invest with a promise to repay their money at very high rates, such as pyramid schemes and other money circulation schemes.
Speaking at the event, Standard Lesotho Bank Chief Executive Officer, Mr. Mpho Vumbukani said the financial sector is working with the CBL to advance efforts aimed at addressing financial issues in the country.
Mr. Vumbukani said the money week campaign creates an opportunity for the financial sector to provide literacy and awareness on financial services offered by the financial sector under the supervision of CBL.
The campaign will run from September 19 to 24 and its activities include radio and television programmes, schools competition and round-table discussions.