Post­bank scoops ex­cel­lence award

Lesotho Times - - Business - Bereng Mpaki

A MAR­KET-ORI­ENTED ap­proach to busi­ness has earned Le­sotho Post­bank (LPB) an ac­co­lade for ex­cel­lence in Le­sotho’s fi­nan­cial ser­vices sec­tor.

The wholly govern­ment-owned com­mer­cial bank won the Di­a­mond Ar­row Award from PMR Africa for Best Over­all Achiever in In­vest­ment Ser­vices for 2016.

PMR Africa awards are an­nual re­gional awards that recog­nise ex­cel­lence in com­pa­nies or in­sti­tu­tions which are eval­u­ated against set cri­te­ria by re­spon­dents.

LPB Man­ag­ing Di­rec­tor Molefi Le­qhaoe told a me­dia brief­ing yes­ter­day the award was a clear tes­ti­mony to the fact that the bank was re­spond­ing well to the needs of cus­tomers.

He at­trib­uted their suc­cess to the cus­tomer and prod­ucts-ori­ented strate­gies they had adopted, say­ing these had en­abled them to un­der­stand the needs of the mar­ket.

“Our ap­proach is a very sim­ple cus­tomer-cen­tric and re­la­tion­ship-cen­tric ap­proach to busi­ness. We be­lieve this is where the award came from,” Mr Le­qhaoe said.

He said the unique­ness of their busi­ness strat­egy could be seen in the man­ner in which they at­tended to their clients as well as the type of so­lu­tions they of­fered to them.

The LPB boss said they had made it more af­ford­able and eas­ier for Basotho to ob­tain loans.

He said they did not en­ter on their own but had been nom­i­nated to par­tic­i­pate in the com­pe­ti­tion and that made the win “even more mean­ing­ful to us”.

Mr Le­qhaoe said 2016 had been a “tremen­dous year” as they had also re­ceived another award from the Le­sotho Na­tional De­velop- ment Cor­po­ra­tion (LNDC) for the Most Promis­ing Bank.

The award was given in recog­ni­tion of the good per­for­mance in giv­ing out busi­ness loans through the Par­tial Credit Guar­an­tee Scheme (PCGS) - a col­lab­o­ra­tive in­ter­ven­tion with the LNDC for ac­cess to fi­nance.

“We were also the most promis­ing be­cause the num­ber of Basotho who ac­quired ben­e­fits from us topped those from other banks al­though we joined the PCGS agree­ment later than the rest,” he said.

He said as part of its quest to im­prove ser­vice de­liv­ery, LPB would re­lo­cate its head of­fices to big­ger premises at house Mafike House.

The bank was also in the process of up­grad­ing its core bank­ing sys­tem to in­tro­duce the most so­phis­ti­cated sys­tem.

“We are there­fore look­ing for­ward to get­ting more ac­co­lades in fu­ture as a re­sult of the new strate­gies that we are im­ple­ment­ing to bet­ter un­der­stand the needs and re­quire­ments of Basotho,” he said.

Es­tab­lished by govern­ment in 2004, LPB has 14 branches coun­try­wide. Three of these are in Maseru and oth­ers are in Machache, Se­monko Se­monko- ng, Ma­put­soe, Hlotse, Pit­seng, Maphola­neng, Mafeteng, Thaba Tseka, Katse, Quthing, Mount Moorosi and Qacha’s Nek.

LPB Man­ag­ing Di­rec­tor Molefi LE­QHAOE.

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