By: Mpho Shelile
Maseru
Central Bank of Lesotho (CBL) has officially launched its 2025-2027 strategic plan and an innovative new website. This initiative is set to redefine the bank’s role in the ever-evolving digital landscape, ensuring it remains at the forefront of financial and technological advancements.
The strategy, unveiled under the theme “Driving Dynamics, Delivering Excellence: Your Central Bank of Today and Tomorrow”, aims to address emerging challenges in the financial ecosystem.
CBL Governor Dr. Maluke Letete, speaking at the launch event, highlighted the importance of adaptability in a world increasingly influenced by technological evolution and economic uncertainties. He stated, “As central bankers, we must protect our integrity and ensure that monetary systems are fully safeguarded. This strategy represents our commitment to finding innovative solutions in an uncertain world.”
The 2025-2027 strategy is built on several core pillars designed to enhance the bank’s effectiveness and resilience. Which include safeguarding Monetary and Financial Stability: Ensuring the stability of Lesotho’s monetary system remains a top priority, particularly in the face of global economic volatility.
They plan on serving the public interest by promoting and maintaining monetary and financial stability while ensuring fair business practices in the financial sector.
Enhancing Organisational Capacity and Culture: The strategy seeks to foster a culture of innovation and excellence within the bank, empowering its workforce to meet future challenges head-on. And promoting staff wellbeing and wellness and to attract and retain talent.
Transforming Efficiency and Resilience: By leveraging cutting-edge technology and streamlining processes, the CBL aims to improve its operational efficiency and resilience against unforeseen disruptions. And improving evidence-based decision making.
Safeguarding monetary and financial stability by ensuring monetary and financial stability, improving regulation and supervision, promoting financial education and inclusion and enhancing market conduct supervision.
Despite these ambitious goals, Dr. Letete acknowledged that there are gaps that need to be addressed. Key areas of improvement include strengthening regulatory frameworks, enhancing communication and stakeholder engagement, and implementing a unified IT strategy to drive digital integration.
The launch of the new website marks a significant step in the CBL’s digital transformation journey. Designed with user experience in mind, the website offers a modern interface, improved accessibility, and a wealth of resources for stakeholders. It serves as a platform for transparent communication and engagement with the public, reflecting the bank’s commitment to openness and accountability.
Dr. Letete also highlighted the importance of forward-thinking leadership in navigating the complexities of the modern financial world. “As central bankers, we must protect our integrity and ensure that monetary systems are fully safeguarded. This strategy represents our commitment to finding innovative solutions in an uncertain world,” he stated.
The CBL’s new strategy and website underscore its dedication to shaping the future of digital innovation in Lesotho. By embracing change and prioritising excellence, the bank is poised to play a pivotal role in the nation’s economic development.