First National Bank Lesotho, The importance of this new bank to the mountain kingdom was underlined by the presence of many members of the cabinet who witnessed the prime minister of Lesotho, Pakalitha Mosilili, perform the official opening.
More than 80% of staff employed are Lesotho citizens.
“We are transferring skills and technologies to Lesotho. By placing a minimal number of South African expatriates in the new operation we will accelerate this process,” said Richard Hudson, CEO of FNB Lesotho.
“We have chosen to start this new venture from a clean slate. FNB has set up an entirely new operation with a new customer base. Our philosophy is to attract high quality business and to develop sound relationships with our customers both in Lesotho and South Africa.
“Lesotho is a common monetary area (CMA) country – sharing a common monetary platform with South Africa, Swaziland and Namibia – and FNB will now operate in all CMA countries,” said Hudson.
The new operation will add capacity to the economy and will contribute to upgrading financial services in Lesotho.
“We have been able to rapidly transfer new technologies and infrastructure to establish the operation,” said Hudson.
FNB Lesotho will offer a full range of retail and corporate banking facilities. This will include an ATM network and internet banking.
FNB expects its Lesotho operation to be profitable within three years. FNB is a division of FirstRand Bank Ltd.
Our Corporate and Investment Banking business in Lesotho is branded FNB to meet and comply with legal and regulatory requirements. The bank is furthermore authorised and regulated by the Central Bank of Lesotho.
FNB Lesotho offers a comprehensive range of Retail, Business and Corporate and Investment Banking solutions to clients from nine branches, across seven districts in Lesotho.
Our core focus areas are:
- Cash Solutions
- Payments and Collections
- Trade and Working Capital Solutions
- Global MarketsWe assist with the flow of funds and the settlement of trades across major currency pairs, while facilitating the hedging of foreign exchange risk.
PRIMARY ADDRESSFirst National Bank of Lesotho Limited Building
Corner Kingsway and Parliament Road
- Tel: +266 2224-7100
- Fax: +266 2231-7037
- Email: [email protected]