Leribe __ Lesotho will commemorate Money month at Hlotse in Leribe on March 20th.

This is according to the Central Bank of Lesotho Chief Corporate Communications, Mr. Ephraim Moremoholo at the bank's heads of Departments meeting held at Hlotse in Leribe on Wednesday.

He said the Central Bank of Lesotho calls for the support of the district on the above mentioned day as to make the day a success in disseminating information about money to the people.

In addition, he explained that the main aim of the bank is to maintain price stability, by managing inflation.

Mr. Moremoholo indicated that through the government's policy of Financial Inclusion amongst others they look into Financial Quality Services and Product Usage.

Talking about Financial Quality Services, he said Basotho for a long time they buy products they do not need but through this they are taught on how to come up with their decisions regarding their monies.

"They need to make the right decisions to carry them into the future," he stated.
He highlighted that for a longer period Basotho risked their monies into pyramid schemes which left them broken.

Chief Corporate Communications said this month the bank will through different Heads of Departments hold public gatherings in different areas in the district whereby they will disseminate information on money.

However, he mentioned that they will also disseminate such things to civil servants who borrow money in different financial institutions and end up earning nothing.
Another representative from Central Bank Ms. Lerato Maieane urged that people invest and save their monies with registered institutions.

She said registered institutions have Traders licence and Certificate from Central Bank.

Miss. Maieane highlighted that many have made wrong financial decisions and it is time to come up with solutions, saying it is never too late.

Referring to the target group, she said their target is civil service, students , factory workers, street vendors, Small Businesses, youth, security services, chiefs and teachers.

On behalf of the District Administrator, Mr. Rasebilo Maqelepo said the office will assist to make sure the event becomes successful. He agreed that the community needs financial education in different spheres.

The Heads of Departments through different ministries and departments agreed to call the bank for the sessions in their respective offices, saying the servants needed such education.

The same event was held in Mohale’s Hoek last year.