Central Bank of Lesotho Unveils Strategic Plan to Enhance Financial Stability and Inclusion

The Central Bank of Lesotho has released its 2022-2024 strategic plan, outlining measures to strengthen financial stability, promote financial literacy, and enhance inclusion in the country’s financial sector.

Objectives

According to the plan, the bank aims to achieve several key objectives:

Develop a capital flows management framework
Review existing supervisory instruments
Implement risk-based supervision frameworks for non-bank institutions
Improve financial literacy through education and literacy programs
Enhance financial inclusion by facilitating diversified capital market products and adopting policies that promote financial inclusion

Key Performance Indicators (KPIs)

Key performance indicators have been set for each objective, including:

Increasing the number of savings accounts for low-income earners
Active mobile money accounts per 100,000 adults
Loans and advances to small and medium-sized enterprises (SMEs)
Insurance access by the general public
Insurance coverage relative to GDP

Financial Inclusion

The plan highlights the importance of financial inclusion, stating that more people having access to financial services is a key indicator of success. To achieve this goal, the bank plans to develop policies and instruments that facilitate financial intermediation and access to finance.

Quotes from the Governor

“We are committed to promoting financial stability, literacy, and inclusion in Lesotho,” said [Name], Governor of the Central Bank of Lesotho. “Our strategic plan outlines a comprehensive approach to achieving these goals, and we look forward to working with stakeholders to implement these measures.”

Availability of the Plan

The Central Bank of Lesotho’s 2022-2024 strategic plan is available online and can be accessed at [website URL].

Note: Replace [Name] and [website URL] with actual information.