What started as a simple funeral insurance offering more than a decade ago has evolved into one of Lesotho’s growing digital insurance brands.
Founded in 2013 under Sasai Econet Financial Services (SEFS), a subsidiary of Econet Telecom Lesotho (ETL), EcoSure has steadily expanded its profile by providing affordable insurance products to thousands of Basotho.
The company recently reached a significant milestone with the launch of EcoSure Short-Term Insurance, marking its entry into a broader range of insurance solutions for households, individuals and businesses.
The launch represents a major step in EcoSure’s evolution from a provider primarily known for funeral cover into a more comprehensive insurance brand offering protection for homes, vehicles, mobile devices, businesses and other valuable assets.
Short-term insurance refers to insurance policies that provide protection against specific risks or losses over a limited period, typically one year at a time and renewable annually.
Unlike life or funeral insurance, which focuses on long-term events such as death, short-term insurance covers assets and property against unexpected incidents such as accidents, theft, fire, storms and other forms of damage.
Developed by SEFS and underwritten by LNIG Hollard Insure, EcoSure Short-Term Insurance has been designed to make insurance more accessible and affordable while addressing the changing needs of Basotho households and enterprises.
The new portfolio includes homeowners’ insurance, mobile device and electronics cover, motor insurance, small and medium enterprise (SME) insurance, business all-risks cover, public liability insurance and other specialised products.
The expansion aligns with SEFS’s broader mission of advancing financial inclusion by making insurance products easier to access, understand and use.
Speaking during the launch, SEFS General Manager Moeketsi Mafereka described the introduction of EcoSure Short-Term Insurance as a landmark achievement in the company’s growth journey.
“The launch of EcoSure Short-Term Insurance marks a new chapter for SEFS and our customers,” Mafereka said.
“For more than a decade, we have built strong relationships with Basotho through our funeral insurance offerings. Today, we are extending that promise of protection to cover the homes, assets, devices and businesses that are essential to people’s livelihoods.”
Mafereka said the company remains committed to ensuring that insurance is available to all Basotho and not only a select few.
“Our vision is to make quality insurance accessible to everyone in Lesotho, regardless of where they live or what they do. Through EcoSure, we are leveraging digital innovation and trusted partnerships to simplify access to protection and help customers recover faster when unexpected events occur,” he said.
The launch also highlights ETL’s strategy of leveraging its telecommunications infrastructure to broaden access to financial services and insurance products through digital platforms.
ETL’s Chief Executive Officer Dennis Plaatjies said connectivity should go beyond telecommunications services and play a role in improving people’s lives.
“At ETL Telecom Lesotho, we have always believed that connectivity is about more than voice calls, data bundles and technology. Connectivity should create opportunities, remove barriers and enable people to access services that help them build better futures for themselves and their families,” Plaatjies said.
He said the new insurance offering demonstrates the value of partnerships between organisations working towards a common goal.
“Through the combined strengths of SasaiEconet Financial Services, LNIG Hollard and ETL, we are making quality insurance more accessible, convenient and relevant to the everyday needs of Basotho,” he said.
According to Plaatjies, EcoSure Short-Term Insurance has been designed around simplicity, affordability and convenience, allowing customers to secure protection through channels that are already familiar to them.
“By leveraging ETL’s extensive network and digital ecosystem, we are bringing insurance closer to the people, making it easier to obtain cover, manage policies and access support when needed,” he said.
He said the new product removes many of the barriers that have traditionally discouraged people from taking up insurance.
“Customers no longer need to view insurance as a complex service reserved for a few. EcoSure provides an accessible pathway for Basotho to protect the things they have worked hard to build, giving them confidence and peace of mind in the face of unforeseen events.”
Plaatjies noted that as households acquire more assets and entrepreneurs invest in growing businesses, demand for reliable insurance protection continues to increase.
“This product demonstrates how technology can help bridge gaps in financial protection. By leveraging ETL’s nationwide reach and digital ecosystem, customers can conveniently access insurance products and services regardless of their location,” he said.
For LNIG Hollard, the partnership presents an opportunity to deepen insurance penetration in a market where many individuals and businesses remain uninsured or underinsured.
LNIG Hollard Managing Director Mpho Vumbukani said the collaboration would help strengthen financial resilience across the country.
“Insurance plays a critical role in helping individuals and businesses recover from unexpected losses and continue building their futures with confidence. Through our partnership with SEFS and ETL, we are making quality short-term insurance more accessible than ever before,” Vumbukani said.
He said the company expects the initiative to have a meaningful impact on communities and enterprises throughout Lesotho.
“We are excited about the positive impact this partnership will have on communities, entrepreneurs and businesses throughout the country,” he added.
Summary
- The company recently reached a significant milestone with the launch of EcoSure Short-Term Insurance, marking its entry into a broader range of insurance solutions for households, individuals and businesses.
- The launch represents a major step in EcoSure’s evolution from a provider primarily known for funeral cover into a more comprehensive insurance brand offering protection for homes, vehicles, mobile devices, businesses and other valuable assets.
- Developed by SEFS and underwritten by LNIG Hollard Insure, EcoSure Short-Term Insurance has been designed to make insurance more accessible and affordable while addressing the changing needs of Basotho households and enterprises.
Seabata Mahao is a general news reporter with special focus on Business and Sports. Started working at Newsday in 2021. Working in a team with a shared goal is what I enjoy most and that gives me the motivation to work under any environment leading to growth.
