Platinum Credit
in Lesotho 🇱🇸
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About Platinum Credit in Lesotho
Platinum Credit is a microfinance institution that operated in Lesotho, providing short-term loans and credit services primarily to underserved populations and micro, small, and medium enterprises (MSMEs). The institution was licensed by the Central Bank of Lesotho under the Financial Institutions Act to operate as a credit-only microfinance institution. Platinum Credit was wholly owned by Plat Corp Holdings, a Mauritian company, and received initial capital funding of US$2 million following its licensing.
The institution became the subject of significant legal controversy in 2024 when it was investigated by the Directorate on Corruption and Economic Offenses (DCEO) for alleged fraud, money laundering, and violations of the Financial Institutions Act and Exchange Control Regulations.