CBL launches Money Month 2025
‘MAKERESEME LETUKA
HLOTSE – The Central Bank Lesotho (CBL) officially launched Money Month Campaign 2025 in Leribe the past weekend with the theme, “Think before you follow, wise money tomorrow.”
The launch was held in Hlotse, Leribe, aiming at promoting financial literacy and awareness among Basotho, encouraged them to make informed financial decisions.
Featuring insightful discussions and exciting activities related to financial education, the event saw the local community and financial users schooled on how money matters best practices.
Speaking at the event CBL chief, Dr Maluke Letete, urged financial service providers in the district to teach people about their social and economic rights and responsibilities.
Letete encouraged the development of good savings habits from an early age and promote the development of livelihood skills and entrepreneurial training.
“In particular in these times when social media is so widespread, and there are so-called experts everywhere, including schemes that often promise huge returns with very little investment or understanding of how those financial products and instruments work,” he said.
The observed that it may seem easy to follow these trends, including those endorsed by popular influencers and celebrities that we follow.
He said the bank plea and earnest message is that it is always best to seek advice from registered and qualified entities, providers and professionals who are able to give well-proven money and financial advice “so that your money works for you now and in the future.”
“We urge against quick money-making schemes which often become fashionable yet entrap many people of their hard-earned incomes and savings with no real returns, or temporary gains at the beginning which are only later swallowed up; and this leaves consumers with no legal recourse as many of these setups are but scams.”
Whether they are based on the ground or in this digital age living on online and electronic platforms, they are scams, nonetheless, Letete added.
Speaking for the Bankers Association of Lesotho, Mahase Mahooana, said that the banking sector has always been more than just a facilitator of financial transactions.
“We see ourselves as the custodians of trust, and the keepers and enablers of dreams and growth. Whether it’s helping SMEs, individuals or large businesses pursue their aspirations, including those that spur national economic growth and development, we take our role with the greatest level of responsibility,” he continued.
“It is for this reason that every year we join hands with the Central Bank of Lesotho as the lead partner with other financial institutions, key public institutions and non-governmental organizations in organizing the Annual Money Month.”
“This year is no different; if anything, the need for this initiative is stronger than ever given the growing risks around financial transactions the world over, primary of which are cybersecurity, data breaches and fraud,” he made an assurance.
Paying particular attention to this year’s theme, Letete went on to say that: “Think Before you Follow, Wise Money Tomorrow” as the Bankers Association, they raise awareness not only during this time of the annual Money Month but “through our individual and combined campaigns to continuously make customers and Basotho at large aware of the benefits and risks of using financial products.”
Nthole Mojapela on behalf of Insurance brokers advised the masses to “think before you follow, wise money tomorrow. This theme cometh as a precaution, a means to demystify the stereotypes brought forth by society in this cosmopolitan age of cyber security and crypto currency.”
He admitted that social media influencers are at times a dilemma for the youth to differentiate between facts about money and scams saying “easy money that requires our card numbers and account numbers are all over social media platforms.” And they can easily swinddle anyone.
The CBL first recognized Money Month in 2017, at the time focused on empowering individuals to make informed financial decisions.
