Question 1

What is Lesana Lesotho?

Accepted Answer

Lesana Lesotho is the largest licensed non-deposit-taking microfinance institution in Lesotho. The institution specializes in providing financial services to government employees and civil servants, including police officers, nurses, and school teachers who have traditionally been underserved by conventional banking institutions. Lesana operates as a subsidiary of SBC Limited, a company listed on the Eswatini Stock Exchange.

The institution focuses on payroll-based lending with salary deduction mechanisms, ensuring responsible lending practices while maintaining a minimum level of take-home pay for borrowers.

Question 2

When was Lesana Lesotho founded?

Accepted Answer

Lesana Lesotho Limited was founded in 2013 when Select Limited re-entered the Lesotho microfinance market. The establishment followed the repeal of a prior court judgment that had negatively impacted the entire microlending industry in Lesotho, forcing Select Limited to temporarily exit the market.

Originally operating as "Lesana Financial Services" under the Select Limited Group, the institution commenced advisory lending operations in 2013. In 2023, SBC Limited acquired 100% of the share capital of Lesana Lesotho Limited from Select Limited, making it a direct subsidiary.

Question 3

Where is Lesana Lesotho headquartered?

Accepted Answer

Lesana Lesotho is headquartered in Maseru, the capital city of Lesotho. The institution maintains its principal operations and administrative functions in Maseru, serving as the central hub for its microfinance activities across the country.

Question 4

Where does Lesana Lesotho operate?

Accepted Answer

Lesana Lesotho operates across multiple regions throughout Lesotho through a network of nine branches and satellite offices. The institution's branch network includes locations in:
• Maseru (headquarters and main branch)
• Leribe
• Butha Buthe
• Mokhotlong (satellite office at Salang Complex)
• Thaba-Tseka (satellite office)
• Mafeteng
• Mohale's Hoek (satellite at Ralebese Building)
• Quthing
• Qacha's Nek (at Mpa Tsehla Complex)

This widespread presence enables Lesana to serve government employees and public sector workers across both urban and rural areas of Lesotho.

Question 5

What services does Lesana Lesotho offer?

Accepted Answer

Lesana Lesotho offers a range of microfinance products tailored to the needs of its target market:

Consumer Lending Products:
• Emergency Facility Loans with quick payouts (within 1 hour) and flexible reload options
• Short-term debit order loans (up to M20,000 with repayment periods up to 24 months)
• Facility loans for flexible borrowing needs

Specialized Financing:
• Incremental housing loans for home construction and improvements
• Solar power unit financing
• Water provision financing
• Insurance products
• Retail credit facilities

Digital Services:
Lesana pioneered telephonic loan rollover and top-up capabilities in 2023, enabling customers to access reload loans without visiting a branch. The institution utilizes the ILS (Integrated Loan System) platform, providing fully electronic, paperless, in-field loan origination capabilities.

In 2025, Lesana issued and listed a Medium-Term Note (MTN) programme on the Maseru Securities Market, expanding its funding capabilities.

Question 6

What makes Lesana Lesotho unique?

Accepted Answer

Lesana Lesotho distinguishes itself through several key characteristics:

Market Leadership: As the largest licensed non-deposit-taking microfinance institution in Lesotho, Lesana holds a dominant position in serving the public sector employee segment.

Financial Inclusion Focus: The institution specifically targets customers who traditionally have not been supported by conventional banks, providing financial access to underbanked and underserved populations.

Responsible Lending: Lesana maintains stringent loan approval criteria that ensure borrowers retain a responsible minimum level of take-home pay after loan deductions, promoting sustainable financial health for clients.

Technology Innovation: The institution was the first in Lesotho to introduce telephonic loan rollover and top-up capabilities, demonstrating commitment to digital innovation and customer convenience.

Capital Markets Access: Lesana's MTN programme listed on the Maseru Securities Market in 2025 represents sophisticated capital raising capabilities unusual for microfinance institutions in the region.

Question 7

What type of financial institution is Lesana Lesotho?

Accepted Answer

Lesana Lesotho is a licensed non-deposit-taking microfinance institution regulated by the Central Bank of Lesotho. This classification means the institution is authorized to provide lending services but does not accept deposits from the public.

As a microfinance institution, Lesana operates within the regulatory framework specific to non-bank financial institutions in Lesotho. The institution focuses exclusively on consumer lending, particularly payroll-based loans with salary deduction mechanisms, serving a niche market segment that requires specialized microfinance expertise rather than full-service banking capabilities.

Question 8

What is Lesana Lesotho's ownership structure?

Accepted Answer

Lesana Lesotho Limited is a wholly-owned subsidiary of SBC Limited, a company listed on the Eswatini Stock Exchange. SBC Limited acquired 100% of Lesana's share capital from Select Limited in 2023, consolidating ownership within the broader SBC Group.

This ownership structure provides Lesana with access to significant capital resources and shared services infrastructure across the SBC Group's operations in Southern Africa. The parent company, SBC Limited, also owns Select Limited (operating consumer lending in Eswatini) and Pine Acres (property development), creating synergies across the group's diverse financial services portfolio.

Question 9

How has Lesana Lesotho performed financially?

Accepted Answer

Lesana Lesotho has demonstrated strong financial performance and growth trajectory in recent years:

Growth Metrics:
• In 2022, the institution achieved exceptional 29% gross loan book growth
• By June 2024, profit before tax grew 11.6% compared to June 2023, significantly outperforming Lesotho's projected 2.7% GDP growth
• The institution maintains an all-inclusive yield of approximately 29.5%, expected to reach 30% levels

Loan Portfolio:
Lesana's impairment provision ratio remained healthy at approximately 3% of the gross loan book as of mid-2024, indicating solid credit quality and collection performance.

Funding Sources:
The institution has diversified its funding through multiple channels, including facilities from the ALCB Fund (secured in 2017), Blue Orchard, and the 2025 MTN programme on the Maseru Securities Market, which represents approximately $5 million USD in bond debt.

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