About Us

Overview:

Lesotho PostBank is a retail banking institution that serves the unbanked and underbanked economically active urban and rural population who do not have access to financial services in a sustainable manner.

Initially, the Government of Lesotho (GoL) had a bank i.e. the Lesotho Bank. However, when that bank was privatized, several rurally located branches were closed because they were not profitable enough for private sector interests. The government found it necessary to set up a bank that would cater for the unbanked and underbanked populace without primary regard for profitability concerns.

The Bank was set up as a company to have separate legal personality and a degree of independence from government interference, although it would be a wholly state-owned enterprise. The Bank would benefit from a board of directors, who would oversee the Bank more directly with skilled and experienced supervision. The Bank would also be required to be audited by rotating external auditors as opposed to exclusive auditing by the Auditor-General.

Lesotho PostBank was set up with total of share capital of M37 million. There was an initial capital of M20 million. However, it was later found to be inadequate and an additional M17 million was injected into the Bank. It began in 2005 as a book-based savings institution, before transitioning to basic retail banking in 2009-2013 whereby personal loans and debit cards were introduced. During the 2005-2013 period, the Bank incurred recurring losses that cumulatively added up to M103,4 million.

The Bank underwent significant transformation and turnaround from 2014 to the present date. There was introduction of diverse products and a restructuring of governance structures and the approach to risk and compliance management. The Bank also underwent digitization and introduced internet banking, mobile banking, and mobile money services. From 2014 to date, the Bank has achieved accumulated profits of M379 million.

Mandate

LPB is a Retail Banking Institution with a mandate to serve mainly unbanked and under-banked economically active urban and rural population who do not have access to financial services in sustainable manner.

ision: To be a financially viable retail bank, committed to improving the life quality of Basotho and to exceed stakeholders’ and customers’ expectations.

ission: The Basotho bank intending to transform the living standard of our nation through customer centric financial services and innovations that result in economic growth.

Corporate Values

Customer First

We place all customers` interests first, show integrity, accountability, and act sincerely in protecting customers` interests.

Innovation

We encourage and reward creativity for ideas that make a difference in our customers and/or employees` lives.

Teamwork

We commit to be accountable, interact actively and complement each other for collective success to build synergies.

Professionalism

We always behave with dignity, show respect and courtesy to all our stakeholders, comply with applicable regulations, and competently provide solutions.

Lesotho PostBank

Executive Committee & Board Of Directors

Lesotho PostBank management is divided into two groups. The Executive Committee, which is responsible for managing day to day activities of the bank. The Board of Directors works hand in hand with the Executive Committee to ensure the bank fulfills its mandate and reached the set objective.

Executive Committee

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Board Of Directors