Lesotho banks serve as the financial institutions of the country. These are involved in a wide range of banking operations. The Central Bank of Lesotho, owned by the government of Lesotho, is the apex bank of the country. All other banks in Lesotho work under its jurisdiction.
The various functions of the banks of Lesotho are:
- Circulation of money
- Regulation of the capital market
- Controlling foreign exchange reserves
- Smooth operations of the financial sector of Lesotho
- Providing loans
The banks of Lesotho also provide financial assistance, advice and support to non-governmental and cultural organizations and various economic sectors of the country.
Lesotho banks are mostly located in the capital city of Maseru. The banks operate from 8:30 am to 3:30 pm from Monday to Friday (excepting Wednesday). On Wednesday, the banks are open from 8:30 am to 1 pm. On Saturdays, the banks remain open from 8:30 am to 11:00 am. The Foreign Exchange bureaus of Lesotho open at 8:30 a.m. and closes at 1 p.m. from Monday to Friday.
Some of the banks of Lesotho are:
- Standard Lesotho Bank Ltd
PO Box: 1053, Maseru 100
Phone: 22315737, 22324468, 22317321
- FNB Branch in Lesotho
PO Box: 11902, Maseru 100
Phone: 22222200, 22222222
- Lesotho Bank Under Liquidation
PO Box: 7755, Maseru 100
Phone: 22313840, 22310076
- Lesotho Post Bank
Private Bag: A 121, Maseru 100
Phone: 22317842, 22317832
Kish City Bank
PO Box: 1176, Maseru 100
Phone: 22311791
- Nedbank (Lesotho) Ltd
PO Box: 1001, Maseru 100
Phone: 22312696, 22310633
Some other banks of Lesotho include:
- Lesotho Agricultural Development Bank
Location: Maseru
- Standard Chartered Bank Africa
Location: Maseru
- Barclays Bank
Location: Leribe
- Stanbic Bank Lesotho
Location: Maseru
Central Bank of Lesotho
The Central Bank of Lesotho was previously known as Lesotho Monetary Authority. The Bank was formed in the year 1978. Although it is owned by the government, yet the Bank also enjoys some independence in formulating monetary policies. The Governor of Lesotho is the Chairman of the Board of Directors. The board members are appointed by the Finance Minister.
The major functions performed by the Central Bank of Lesotho are:
- Issuing currency
- Supervising the financial institutions of Lesotho
- Controlling foreign exchange reserves
- Advising the government on financial matters.
Central Bank of Lesotho is located at Corner Airport and Moshoeshoe Roads, Maseru Central, PO Box: 1184, Maseru 100. The contact number of the Bank is (+266) 22314281/22324281.
