Lesotho Financial Inclusion Refresh

  • November 03, 2021


Countries are seeking new ways to address complex and interconnected challenges. Fulfilling the promise of the United Nations Sustainable Development Goals (SDGs) requires multisectoral approaches that bring together expertise from a range of perspectives. By harnessing our comparative advantage and working within the context of our respective mandates, we can collectively make significant progress towards realising the vision of the SDGs.

The effective use of a wide range of quality, affordable and accessible financial services, provided in a fair and transparent manner through formal or regulated entities, by all people living in Lesotho.

The National Inclusive Finance Strategy (‘NIFS’, 2017-2021) set out the above vision for Lesotho and financial inclusion, developed in collaboration between the Government of Lesotho and the MAP programme, and informed by the 2014 MAP diagnostic report for Lesotho. In addition, in 2014, the CBL launched the Financial Sector Development Strategy (FSDS), an overarching strategy for the financial sector, that had a chapter in financial inclusion.

The MAP programme first involves assessing the economic and human development plans for a country, often linked to United Nations SDGs, and then secondly the means by which financial inclusion can help achieve these objectives.

In this MAP refresh report, we review the implementation of the 2014 MAP diagnostic and 2017 NIFS and consider key market changes to identify financial inclusion interventions that can grow the economy and benefit society. A review of the financial inclusion landscape will inevitably touch on some activities of the FSDS.

This refresh was undertaken by the United Nations Capital Development Fund (UNCDF) to jointly address UNDP’s Signature Solution 1, which seeks to work with countries to keep people out of poverty, relating directly to SDG 1: eradicate all forms of poverty, wherever it exists.