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EcoCash paves the way for a safer and secure financial future for Basotho

Business

Staff Reporter

As Lesotho celebrates this year’s edition of Money Month, a pivotal time for financial awareness and empowerment, Sasai Econet Financial Services, a subsidiary of Econet Telecom Lesotho (ETL), stands at the forefront of revolutionising the country’s financial landscape through its mobile money solutions.

With solutions such as EcoCash Spache-Fono, Sasai Econet Financial Services is empowering individuals and businesses alike, driving financial inclusion, and fostering economic growth across the Mountain Kingdom.

In a country where traditional banking services are often inaccessible to large segments of the population, Sasai Econet Financial Services’ mobile money solutions serve as a lifeline for financial inclusion.

“We are ecstatic that through our innovations, Sasai Econet Financial Services has been able to reach individuals across Lesotho with life-changing solutions such as EcoCash Mekhatlo account that allows informal groups that are popularly known as stokvels to save and distribute the money among members on a more safe and secure platform,” said Sasai Econet Financial Services General Manager, ‘Matikoe Letsie.

Letsie added that individuals can easily access a wide range of financial services, such as secure and safe money transfers, payment of bills, and airtime purchases directly from their mobile devices.

“This accessibility is especially crucial for rural communities and underserved populations, enabling them to participate in the formal economy and access essential financial services with ease,” Letsie reiterated.

“Gone are the days of walking long distances with money in envelopes, joining long queues, and challenging banking processes. With our solutions, customers can safely and securely conduct financial transactions at any time, from anywhere, with just a few taps on any mobile phone.

“Whether it is sending money to loved ones, paying bills, or purchasing goods and services, our EcoCash’s user-friendly interface ensures unparalleled convenience and efficiency for users across Lesotho,” she added

Letsie went on to note: “We are proud of the strides we have made towards empowering businesses of all sizes to thrive in an increasingly digital economy. Through Sasai Econet Financial Services’ EcoCash merchant solutions, businesses can accept mobile payments securely and conveniently, as well as make transfers towards employees’ salaries.”

As part of the Money Month festivities, Sasai Econet Financial Services is committed to promoting financial literacy and education in collaboration with other financial institutions and the Central Bank of Lesotho (CBL).

Through a series of workshops and community outreach initiatives, Sasai Econet Financial Services is empowering individuals with the knowledge and skills they need to protect their money and secure their future.

Letsie concluded by indicating that at the heart of the work Sasai Econet Financial Services delivers to its esteemed customers, is convenience and security. “As we continue to make this life-changing solution for our customers, it is important that they take note of all security protocols that are available to secure their monies against cyber and financial criminals,” she said.

“An important measure is that they should ensure that their EcoCash account PINs are very strong and cannot be easily guessed or even stolen. Also, ensure that they do not share their One Time Password (OTP) with anyone including fraudsters claiming to be Econet employees,” she stated.

Beyond empowering individuals and businesses, Sasai Econet Financial Services is also playing a pivotal role in driving economic growth and development across Lesotho by facilitating seamless financial transactions, expanding access to savings opportunities, and promoting entrepreneurship.

“As more people embrace mobile money solutions, the ripple effects of this digital revolution will be felt far and wide, transforming lives and communities for the better,” Letsie said.

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