Question 1

What is CGT Financial Services?

Accepted Answer

CGT Financial Services is a microfinance institution operating in Lesotho, providing financial services to underserved individuals and micro, small, and medium enterprises (MSMEs) who are typically excluded from traditional banking systems. The institution is registered with the Central Bank of Lesotho as a licensed microfinance provider.

CGT Financial Services, also known as CGT & Associates Chartered Accountants, was established to provide auditing, accounting, tax consultancy, and advisory services alongside microfinance operations. The institution focuses on making financial services accessible to communities that face challenges accessing conventional banking products.

Question 2

When was CGT Financial Services founded?

Accepted Answer

CGT Financial Services was established in February 2020 by Sisinyi Mathias Rakubutu, a 28-year-old chartered registered auditor from Mohale's Hoek, Mataoeng. The institution was founded upon Rakubutu's qualification and acceptance as a chartered registered auditor by the Lesotho Institute of Accountants (LIA).

The founding of CGT Financial Services reflected the vision of expanding financial inclusion in Lesotho through a combination of professional accounting services and accessible microfinance products for underserved populations.

Question 3

Where is CGT Financial Services headquartered?

Accepted Answer

CGT Financial Services is headquartered in Maseru, Lesotho. The institution's offices are located on the 1st Floor of the Christian Council of Lesotho Building, 160 Constitutional Road, opposite the South African High Commission in Maseru West.

This central location in Lesotho's capital provides accessibility to clients throughout the region while maintaining proximity to other financial institutions and government offices.

Question 4

Where does CGT Financial Services operate?

Accepted Answer

CGT Financial Services operates primarily in Lesotho, with its main operations based in the Maseru District. The institution serves clients across multiple districts in Lesotho, including Maseru District, Leribe District, and Mafeteng District.

The institution focuses on reaching underserved communities in both urban and rural areas of Lesotho, addressing the significant financial inclusion gaps that exist in the country where access to traditional banking services remains limited.

Question 5

What services does CGT Financial Services offer?

Accepted Answer

CGT Financial Services provides microfinance services including small business loans, microcredit facilities, and financial products tailored to MSMEs. The institution specializes in providing credit to entrepreneurs and small business owners who lack the collateral or credit history required by traditional banks.

In addition to microfinance, CGT & Associates offers comprehensive accounting and advisory services including auditing and assurance services, tax consultancy and preparation, business advisory services, strategic consultancy for business incorporation, financial and accounting outsourcing, and business management consulting.

The dual focus on microfinance and professional services allows CGT to support clients with both capital access and business development expertise.

Question 6

What makes CGT Financial Services unique?

Accepted Answer

CGT Financial Services combines professional chartered accounting services with microfinance operations, providing a comprehensive support system for MSMEs in Lesotho. The institution is led by founder Sisinyi Mathias Rakubutu, who holds qualifications including a chartered accounting certificate and an MSc in Accounting and Finance from the UK.

In 2021, CGT & Associates joined Alliott Global Alliance, an international alliance of professional independent auditing, accounting, tax, and law firms operating in over 80 countries worldwide. This global connection provides access to international best practices and knowledge sharing that benefits local clients.

The institution's approach focuses on simplifying financial services for small businesses and individuals, making banking and credit more accessible through reduced bureaucratic requirements and flexible lending criteria compared to traditional banks.

Question 7

What type of financial institution is CGT Financial Services?

Accepted Answer

CGT Financial Services is a microfinance institution (MFI) operating in Lesotho. It is licensed and supervised by the Central Bank of Lesotho as part of the country's non-bank financial services sector.

Microfinance institutions in Lesotho play a crucial role in the financial system, providing credit, savings, and other financial products to the 90% of businesses that are MSMEs. As an MFI, CGT Financial Services operates outside the traditional banking sector but is regulated to ensure consumer protection and financial stability within its market segment.

CGT Financial Services

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About CGT Financial Services in Lesotho