MASERU - Local Non-Government Organisations (NGOs) will from now enjoy some exclusive benefits from Standard Lesotho Bank after the two parties agreed on a partnership under the Consumer Value Proposition (CVP) on Tuesday this week. The partnership, which has been labeled ‘the beginning of more good things to come’ by the bank officials, has been well received by NGOs, though concerns and recommendations were also put forward by the clients.
Standard Lesotho Bank Chief Executive Officer, Mpho Vumbukani, hailed the partnership saying it will provide a platform where both parties can speak the same language. “We are happy that you are here because we appreciate the role that you play in our society. That is another reason why we invited all of you here today without considering whether you are our client or not because our priority is to serve the needs of our society,” Vumbukani said at a function in Maseru on Tuesday this week.
Under the CVP programme, the bank will provide services of public sector banking, relationship management, deep customer understanding as well as tailored solutions and efficiency. A team of the bank’s officials has been equipped with skills to deal specifically with the NGO clients while at the same time providing financial education to them and their employees so that they can be productive.
“We have been on a transformation journey and we are fully aware that many people are still excluded in these kinds of meetings with you. We developed CVP as a team but we realised that we can only improve when we get feedback from you. We say Lesotho is our home and we drive her growth but we cannot do that alone. That is why we are saying this is the beginning of more good things to come,” Vumbukani added.
The bank head of business banking, Mahlompho Mojakhomo corroborated, adding that NGOs are different from other clients due to their setting, “…so we realised that the only way was to engage with them and indeed we are starting and we believe there is still more to come.” While the NGOs warmly received their partnership with the bank, it was recommended that the bank reconsider its approach towards clients for easier understanding.
“It is a good thing that you came to us for consultations and we highly appreciate that but I think approach to clients should be as easy as possible for easier comprehension. Let it be free of technical terms which make it difficult for us to understand,” said Sofonea Shale of the Development for Peace Education.
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