Seabata Mahao is a general news reporter with special focus on Business and Sports.
Started working at Newsday in 2021.
has an Associate Degree in Journalism and Media.
After months of turbulence and user frustration, SasaiEconet Financial Services (SEFS) has officially announced the successful stabilisation and major upgrade of its flagship mobile money platform, EcoCash, bringing with it a wave of new enhancements designed to transform digital finance in Lesotho.
The system overhaul, which went live in October 2024, represents one of the most ambitious technological shifts in EcoCash’s history.
While the migration initially caused some disruptions for customers, agents, and merchants across the country, SEFS now says the platform is “stable, stronger, and ready for the future.”
“I am proud to stand here today to say, EcoCash is now stable, stronger, and ready for the future,” said SEFS General Manager Moeketsi Mafereka, during a media briefing this week.
SEFS acknowledged the challenges users faced during the transition, issuing both an apology and a message of appreciation to loyal customers who remained patient through the difficulties.
More importantly, the upgrade has ushered in a host of customer-focused improvements, designed to enhance efficiency, transparency, and convenience for individuals and businesses alike
Among the key enhancements introduced in the upgraded EcoCash system include Mokhatlo Integration. In a major step towards supporting community financial culture, EcoCash now offers full functionality for community savings groups, including stokvels and burial societies among others.
Users can make contributions, track transactions in real-time, and eliminate the risks associated with manual money handling.
“Under Mokhatlo Integration, members can now pay contributions, track transactions in real-time, and eliminate the risks associated with manual money handling,” said Mafereka.
Another new addition is the Upgraded Payroll Services, where businesses now have the ability to process salaries directly from their EcoCash business accounts, reducing paperwork and enhancing transparency and security in employee payments.
There is also enhanced security. In response to the growing threat of cybercrime, EcoCash has deployed multi-layer authentication and advanced fraud detection systems to ensure better protection of customer data and funds.
A final addition is the Self-Service Business Portal, which is a newly launched business client portal allows users to manage multiple accounts, view reports, and initiate transactions independently, reducing reliance on physical branch visits.
“The Self-Service Business Portal empowers business clients to view reports, manage multiple accounts, and initiate transactions independently.”
Addressing a long-standing concern, Mafereka confirmed that interest payments to EcoCash wallets will resume soon, a move welcomed by customers who have not received interest payouts for over two years.
“Soon, customers will receive interest payments directly into their EcoCash wallets, which is a long-awaited feature intended to reward users for their continued trust and usage,” he said.
SEFS has emphasised that this upgrade is just the beginning of a larger journey towards innovation, inclusion, and economic participation.
“We are committed to continuous innovation. EcoCash is not just a wallet anymore—it is becoming an integral part of daily life for Basotho,” said Mafereka.
“With its renewed foundation, EcoCash now aims to expand its impact on financial inclusion, digital empowerment, and economic participation in Lesotho.”
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