CBL, AFI Extends Efforts To Boost Financial Inclusion For Women-Led MSMEs

MASERU

The Central Bank of Lesotho (CBL), in partnership with the Alliance for Financial Inclusion (AFI), has launched a four-day Regional Joint Learning Program on Alternative Finance Instruments for Women-Led Micro, Small, and Medium Enterprises (MSMEs) in Maseru this week. This initiative seeks to promote financial inclusion and support the growth of women-led businesses in Lesotho, aligning with the United Nations’ Sustainable Development Goals (SDGs).

The CBL First Deputy Governor, Lehlomela Mohapi, welcomed participants to the first physical seminar hosted by the bank, following virtual engagements held during the COVID-19 pandemic. 

Lehlomela spotlighted the importance of the programme in providing a platform for knowledge, exchange and skills sharing aimed at identifying innovative ways to enhance financial inclusion for women-led MSMEs.

“Financial inclusion is a key driver of economic growth and development and women-led MSMEs are crucial to this process,” Lehlomela said, adding that as the bank they are committed to working with partners to create an enabling environment that will support the growth of women-led businesses and promote economic empowerment for women. 

AFI Chief Executive Officer, Dr Alfred Hannig, highlighted the significance of the programme, noting that women constitute a significant proportion of the population but continue to face barriers in accessing financial services. 

“Women-led SMEs are key drivers of economic activity, innovation and employment creation, yet financial exclusion remains a persistent challenge,” he said.

He emphasised that the challenges faced by these businesses, including limited access to finance, collateral constraints and informality, require deliberate policy interventions, strengthened collaboration among stakeholders and peer learning platforms such as the regional programme.

It was said that the initiative directly contributes to SDG 5 (Gender Equality) by promoting women’s economic empowerment and improving their access to financial resources. 

This programme is expected to bring together policymakers, financial institutions and other stakeholders to explore innovative solutions to address the financial inclusion gap faced by women-led businesses in Lesotho and its surrounding regions.

It will also provide a platform for participants to share experiences, best practices and lessons learned in promoting financial inclusion for women-led MSMEs while contributing to the development of policies and strategies that support the growth of women-led businesses and promote economic empowerment for women in Lesotho.