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Phuthalichaba, a financial cooperative under the National University of Lesotho (NUL) Innovation Hub, has just bought shares at Enrich, a chain-store created by NUL graduates. This means Phuthalichaba is now one of the major shareholders in the successful venture. “From the beginning, we made it clear that one of our goals was to invest in innovative local businesses,” Itumeleng Likhama, the Financial Manager at Phuthalichaba said. “Well, we didn’t have to wait until we were a bank to start. We’ve ceased the opportunity with Enrich.”

(Join Phuthalichaba here from the comfort of your home and wherever, in the world, you are:

Now if you are a member of Phuthalichaba, you now indirectly have a stake at Enrich. It’s just the beginning!

By the end of October 2021, Phuthalichaba had its savings at M 1,060,644.37 and membership at 600, on its way to creating a BANK truly owned by the people! These numbers are growing by the day!

Known as “The Future Bank of the People “, Phuthalichaba is the fastest growing registered financial cooperative in Lesotho; incubated under the NUL Innovation Hub. Its aim is to become Lesotho’s first and true Development Bank which will invest in innovative businesses owned by Basotho.

Every member must save monthly (Compulsory Monthly Savings). You choose how much you want to save per month but the minimum amount you can save is M50.00. These compulsory savings are debited from your bank account through a debit order, which is charged M15.00 or any other amount, depending on your bank.

(WhatsApp or call these numbers for more information: +266 56037658 ).

Why join PhuthaLichaba?                                                

1. PhuthaLichaba is a legally registered cooperative, incubated under the NUL Innovation Hub, which aims to create both a Commercial and a Development Bank in the future.

2. That bank will be Lesotho’s only financial institution which will strengthen innovative local businesses by buying shares in them, growing them to become big regional and international players.

3. If you are a member (and therefore a shareholder in Phuthalichaba), you indirectly become a shareholder in the businesses which Phuthalichaba will create or invest in; with associated benefits.

4. Immediate membership benefits include access to finance through borrowing at very low interest rates. They also include a chance for you to save your own money in an entity that is truly owned by you.

Join PhuthaLichaba here:


What makes Phuthalichaba different?

1. Being part of the NUL Innovation Hub, Phuthalichaba seeks to be at the cutting edge of financial innovations in Lesotho.

2. It is brought together, and it is led by some of the most innovative minds Lesotho has produced.

3. It is one of the few (if any) 100% paperless and cashless institutions in Lesotho. Yes, no one handles cash or touches paper at Phuthalichaba. We use technology to the maximum! If you visit our offices at the NUL Innovation Hub, you only find employees and their computers, nothing else. All our meetings are held online, including general meetings.

4. All financial transactions are handled by the banks, so Phuthalichaba is transparent in the way it handles people’s hard-earned cash. That means all its financial transactions are traceable and they are permanently held by a third party, which is the bank.

Did you know?

1. That Phuthalichaba now has its savings at M 1,060,644.37 and it has its membership at 600 on its way to creating Basotho’s own Bank?

2. That, apart from Lesotho, Phuthalichaba has members residing as far as Taiwan, Canada, United States, United Kingdom, Mozambique, Belgium and South Africa?

3. That, in fact, you can join Phuthalichaba from anywhere in Lesotho or anywhere in the world as long as you have a bank account in Lesotho and you are a citizen of Lesotho?

4. That PhuthaLichaba is creating three more financial institutions which are: Lebelo Mobile Money, Phuthalichaba Investments and Phuthalichaba Finance? (more about this in the future).

5. That even new-born babies can become members of Phuthalichaba by saving through their parents’ accounts as long a they have Identity Documents?

So join PhuthaLichaba now because, quite frankly, it is an earthquake waiting to happen in the financial landscape of Lesotho.

Join here:

(WhatApp or call these numbers for more information: +266 56037658)

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