Lesotho PostBank (LPB) is currently 100% Government owned bank. It was incorporated in 2004 as a public company pursuant to the Lesotho Company’s Act of 1967 and is licensed by the Central Bank of Lesotho, in accordance with the Financial Institutions Act of 1999.

The LPB is mandated to access financial services to the un-banked Basotho living in urban and rural areas of the country. Since its inauguration, the Bank is committed to serving Basotho access affordable banking services.

In addition, the LPB’s strategic partnership with Lesotho Postal Services (LPS), affords the LPB a large network of outlets in the form of 47 post offices

The LPB intends to be a fully-fledged bank with a portfolio of savings products, microfinance lending and electronic transacting services.
 

Brief History

Lesotho’s first financial services for local people were provided by the Lesotho Post Office in the then seven (7) lowland district towns, from September 1891. The savings accounts remained under the management of the Post Office for eighty years until 1971, when the Government of Lesotho (GoL) transferred financial services from the Post Office to the newly established Lesotho National Development Bank (LNDB).

In 2004, the GoL’s goal to bring financial services to the majority of the population spurred the establishment of Lesotho PostBank (LPB) as a second generation post bank, after it was realised that many Basotho were still under-served or un-served with respect to banking. In attaining this mandate, the LPB operates in strategic relationship with the Lesotho Postal Services (LPS).