The Bank of Choice for Lesotho
Some watch things happen, some wonder what happened,
while others Make Things Happen. From its inception
in 1997, Nedbank Lesotho Limited has made things
happen in Lesotho, and displayed commitment to the
socio-economic development of the country, its
residents, and its future.
Nedbank Lesotho continues in line with Nedbank
Africa’s vision of becoming the brand of choice in
its regions of operation, to entrench itself as a
leader in financial services, through product
development and enhancement, service excellence, as
well as sound corporate social responsibility, and
striving to be the bank of choice for Lesotho by
making a difference for all stakeholders.
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"Nedbank Lesotho has made things happen in
Lesotho" |
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Lesotho faces a number of key challenges, namely:
rising unemployment, retrenchment of Basotho from
South African mines, and the HIV/AIDS pandemic. In
times like this, it is those who are perceived to be
preparing boldly for the future who will flourish;
those who are seen to possess wisdom, commitment and
vision. Nedbank Lesotho clearly embodies these
qualities.
Nedbank Lesotho continues to entrench itself as a
leader in corporate social responsibility and indeed
strives to be the preferred bank for Lesotho by
making a difference for all stakeholders. Thus,
gaining respect in the area of social investment in
Lesotho through its support for worthy community and
development causes.
Nedbank Lesotho offers a full spectrum of personal,
business, and corporate banking services ranging
from savings accounts, trade finance services, forex
services, as well as offshore investments, and
electronic and internet banking services. Currently
the bank is represented through 7 branches in:
Maseru, Mafeteng, Mohale’s Hoek, Maputsoe, Hlotse,
Butha Buthe, and Roma; plus 2 agencies at the Post
Office and UN House in Maseru. Out ATM network is
spread throughout this branch network and in town
centers.
Due credit for the success of Nedbank Lesotho is
given to our staff members who are committed to
achieving a level of high productivity and have
proved to be understanding of challenges facing the
bank and the sector. The bank’s Human Resources
policies are built on the principle of equity, and
guarantee a stable workforce, thereby ensuring low
staff turnover and continued commitment by all
staff.
Nedbank Lesotho will continue to draw upon its
vision for the future.
Our History
Nedbank Lesotho Limited traces its history back to
Standard Bank of South Africa (SBSA), which was set
up in 1904.
In 1908, an agency was established in Ladybrand to
cater for the needs of all businesses operating in
and near Ladybrand. After Ladybrand was made a
fully-fledged branch, an agency was opened in
Maseru, which later evolved into a fully-fledged
branch too.
In 1947, Maseru started operating as a full-fledged
branch, and later established mobile agencies to
Morija, Roma, Mapoteng, Teya-teyaneng, Butha-Buthe
and Leribe. A branch was opened in Mohale’s Hoek,
with agencies in Mafeteng and Quthing to cater for
the Southern regions, as the SBSA agency that had
been opened in Qacha’s Nek by Matatiele branch was
closed. In 1971, the Leribe agency, at Hlotse at the
time, became a fully-fledged branch and ran
Butha-Buthe as its agency. With the opening of
Maputsoe as the main branch in 1973, the Hlotse
office was down-graded to agency status.
Maseru subsequently closed all its agencies,
Mohale’s Hoek closed
Quthing agency, and Maputsoe closed Butha-Buthe and
ultimately Hlotse agency. Towards the end of 1996,
only Maseru, Maputsoe, and Mohale’s Hoek were
operating as full branches, with Mafeteng Agency
being run by Mohale’s Hoek. In 2003, Mafeteng was
upgraded to a full branch.
When Standard Bank Limited in the UK withdrew from
South Africa in the early seventies, the Lesotho
operation became a subsidiary of the UK Bank, and
with the merger of Standard and Chartered Banks to
form Standard Chartered Bank, the Lesotho operation
assumed the same name, and had its Head Office in
London. In Southern Africa Standard Chartered Bank
had subsidiaries in; Swaziland, Zimbabwe, Zambia,
Botswana, and Lesotho.
The Africa subsidiaries of Standard Chartered Bank
were later changed to Standard Chartered Bank Africa
Plc, and the Lesotho operation converted to Standard
Chartered Bank (Lesotho) Limited when it was locally
incorporated.
The first general meeting was held on 2 January 1997
signaling a new era, an era of the acquisition of
the business in Lesotho and the official opening of
Nedbank (Lesotho) Limited, which was inaugurated and
established in Lesotho on 1 January 1997, having
bought the then Standard Chartered Bank (Lesotho)
Limited.
With the opening of Nedbank Lesotho Limited, Mr.
Claude Pearce was appointed as the first Managing
Director whose term of office came to an end on 31
December 1997. He was then succeeded by the late Mr.
David George Watts. Mr. Watts’s successor was Mr.
Phillip Opperman. Mr. James Matthews then acted for
five months before Mr. Kevin Reid took his place as
the Managing Director from February 2005.
It was during Mr Reid’s tenure in office that the
bank celebrated 10 years of operating in Lesotho on
1 January 2007.
Mr Reid was succeeded by Mr Lazarus Murahwa in
August 2007, who is the current Managing Director.
Nedbank Lesotho Limited, is subsidiary of the Nedbank Group (formerly
known as the Nedcor Group), a South African banking
group that is listed on the Johannesburg Stock
Exchange. The Nedbank Group consists of different
clusters. Nedbank Lesotho Limited falls under the
Nedbank Corporate cluster, in the division of
Nedbank Africa.
The head office is based in Maseru, along Kingsway
road. The bank currently operates 7 branches in:
Maseru, Mafeteng, Mohale’s Hoek, Maputsoe, Hlotse,
Butha-Buthe and Roma, as well as two (2) agencies in
Maseru, at Post Office and UN House premises.
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