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Letshego to finance invoice/purchase orders

Business

BM

Letshego to finance invoice/purchase orders

Seabata Mahao

Small enterprises holding invoice or purchase orders will soon be able to get up to M200 000 credit funding from Letshego Lesotho to bridge their working capital challenges.

According to Letshego’s marketing business partner, Tsotetsi Seema, the facility was inspired by the observation that micro and small enterprises often face crippling financial difficulties while waiting for their invoices and purchase orders to be processed into liquid cash to sustain their business operations.

Seema indicated however that invoice or purchase orders from government ministries would not be accepted as they would only accept those that can be paid within four months.

The government is known to delay paying its suppliers for up to a year of rendering services. This often leads to many enterprises going out of business if they cannot find a financial institution to intervene.

The Invoice and Purchase Order Financing package comes as part of the financial institution’s 10th anniversary celebrations of operating in Lesotho.

In keeping up with the 10th anniversary celebrations, Letshego Lesotho is giving away weekly celebratory prizes to some of its customers who will be applying for loans from September 12 to December 31 this year.

The prizes include 10 smartphones worth M35 000.00; four customer trolley dashes worth M20 000.00; 10 petrol vouchers worth M10 000.00; 10 electricity vouchers worth M10, 000.00 and 10 grocery vouchers worth M10 000.00.

Going forward, Letshego said is committed to improving lives, growth, financial inclusion by initiating new improved business packages.

Letshego’s Chief Executive Officer, Selloane Tsike, explained that financial inclusion underpins Letshegos strategic agenda.

“From the moment we opened our doors in Maseru in 2012, what has set us apart from the rest is our commitment to extend the reach and benefit of relevant financial solutions and capital to more Basotho.

“We are humbled by and proud of our invaluable niche that has improved lives by serving thousands of customers, that in turn has positively impacted their families and their communities.

She said through their assistance to the underserved, they were grateful to have contributed towards Lesotho’s economic development and were sincerely thankful to their loyal customers who stood by their side throughout the ten- year journey.

Tsike further indicated that as part of their digital transformation strategy and aspirations to become digitally-led, Letshego Lesotho recently launched their ‘LetsGo Digital Mall,’ which is an interactive online platform that customers can access via their mobile phones or online, enabling them to apply for loans through self-service, access their account details, loan statements as well as update their personal information.

“On-going developments will see the platform offering diversified financial products and beyond banking services to improve lives for customers, stakeholders and communities. Letshego Lesotho has continued to engage with customers and communities in providing financial literacy initiatives in both rural and urban areas across the country,”

“They have also invested in their annual Improving Life Campaigns for several years to encourage Basotho to obtain loans for productive, rather than consumptive purposes, serving as a classic example of how the company and its people work tirelessly to deliver value creation and a positive social impact,” Tsike stated.

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