The Minister of Communications, Science and Technology, Mr. Mothetjoa Metsing officially launched the new Lesotho Post Bank (LPB) agency and a 12 months fixed deposit service to be offered by the bank at the function held in Maseru on Monday.

Speaking at the occasion, the Minister said the new agency, which is within the main Post Office Building is in response to customers’ request to have more space so to cut down long queues at LPB Maseru branch.

He noted that LPB will mark its 3rd year of operation in January 2008, and up to this far, it has opened 12 branches thus in Maseru, Machache, Katse, Thaba-Tseka, Semonkong, Mapoteng, Maputsoe, Pitseng Mapholaneng Quthing, Mount Moorosi and Qacha's nek.

On the other hand, the minister said the new service named ‘TELEA’ which is a 12 months fixed deposit service will enable the community to attain a multi benefit in their investments.

Also speaking, LPB-Chief Executive Officer, Mr. Mpho Vumbukani appealed to the community to take advantage to invest with the bank as it aims to be a catalyst regarding access to financial services.

However, the Chairperson of LPB-Board, Mr. Tsietsi Lebakae said the bank is still faced with the challenge as it cannot grant loans that he maintained could be a need to the public.

Established in 2005, LPB is a government-owned institution mandated to provide accessible and affordable financial services to Basotho countrywide. It works in strategic partnership with Lesotho Postal Services.

Source: LENA 19/11/2007