‘Let us not be afraid of money’

Refiloe Molise

Government officials, financial experts and industry leaders have called on Basotho to strengthen their financial literacy and adopt smarter money management practices during the launch of the Money Month Lesotho Campaign 2026 in Mafeteng on Thursday.

Held under the theme “Smart Money Talks,” the campaign was officially launched at the Patsa Centre by Central Bank of Lesotho First Deputy Governor, Lehlomela Mohapi, alongside representatives from the Ministry of Finance and Development Planning, the banking sector, insurance firms, microfinance institutions and mobile money service providers.

The initiative brings together key players in the financial sector to promote financial inclusion, responsible money management and practical financial knowledge among communities.

In his keynote address, Mohapi noted that the campaign, which began in 2013, has now entered its 13th year. He said it continues to rotate across districts, with Mafeteng becoming the ninth host, while Berea is expected to host next year.

He stressed that while money plays a central role in people’s lives, many still lack the knowledge to manage it effectively. He said the campaign’s theme encourages open conversations about finances and informed decision-making.

Reflecting on the COVID-19 pandemic, Mohapi described it as a turning point that exposed the importance of financial preparedness.

“When COVID-19 started, people were mainly concerned about two things, how to survive and how to sustain their livelihoods. Both of these depend on money,” he said.

He added that the crisis revealed the need for improved financial planning, savings and a better understanding of financial tools such as insurance.

“As families, we must know how much money we have and plan accordingly. We should avoid situations where families fight over insurance money after the loss of a loved one, as this often leads to divisions,” he said.

Mohapi said the presence of financial institutions in Mafeteng was aimed at equipping Basotho with the knowledge and tools needed to manage their finances effectively.

“We are here to show people how important money is, how to save it and how to use it properly. All the institutions you see here are here to help. This is not a scam it is about equipping Basotho with knowledge,” he emphasised.

He also highlighted the need to build trust between financial institutions and the public, noting that misinformation and lack of understanding often discourage people from using formal financial services.

“We want to build trust among Basotho and help them understand how money works in all its forms. Money has the ability to grow, but it only grows where it is well managed,” he said.

Mohapi further urged parents to introduce financial education to children at an early age to build a financially responsible generation.

“Let us not be afraid of money, and let us teach our children to understand it from an early age,” he said.

He concluded by reaffirming the Central Bank’s vision of ensuring that every Mosotho approaches money with knowledge and confidence.

Also addressing the gathering, Acting Principal Secretary in the Ministry of Finance and Development Planning, Maseeiso Lekholoane, underscored the importance of financial education in driving economic empowerment and national development.

“Today we are talking about money, yet not everyone is comfortable discussing it. The most important thing is to make financial plans and ensure that those plans are implemented,” she said.

Lekholoane said while many people set financial goals, the main challenge lies in execution and consistency. She added that institutions like the Central Bank play a critical role in regulating financial service providers.

Quoting the Sesotho proverb “Sechaba se senang tsebo sea timela,” she urged Basotho to actively seek financial knowledge and utilise available services.

“We encourage people to visit these institutions, ask questions and learn. We are leaving knowledge behind, and we hope the people of Mafeteng will use it to improve their lives,” she said.

The event also provided a platform for the public to engage directly with financial institutions and learn about products such as savings accounts, insurance and mobile money services.

Participants received practical guidance on budgeting, saving, investing and avoiding financial scams, reinforcing the campaign’s goal of promoting responsible financial behaviour across the country.

Newsday

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