By Seleoe Nonyane
Standard Lesotho Bank (SLB) has launched its cutting edge solution named Unayo (you have it) on Monday this week.
Unayo is a low-cost, one-stop platform that can be used as a vehicle for growing businesses, giving easier access to markets and making transacting more convenient.
It is also aimed at providing economic growth for the community and ultimately making individual and collective dreams real.
SLB saw it necessary to create a new product as a way to increase financial inclusion among the majority of the citizens of Lesotho and stimulate economic growth for informal markets.
This platform allows people to make transactions with ease by just using a mobile phone.
Unayo platform has been purposely developed to work on both smart phone and feature phones. Clients will be able to download Unayo on Android and AppStore as well as USSD platform for those who are to use feature phones by dialing *388#.
The target market is for Basotho who have been excluded from financial service.
The chief executive officer for Standard Lesotho Bank, Anton Nicolaisen, disclosed that as SLB they are continuously looking to build new digital solution to improve service offering to their clients.
“The Unayo offering will provide convenience to our customers and provide more options of sending and sharing money in our country and in a manner that accommodates everyone in the value chain,” Nicolaisen disclosed.
He added that the platform is also intended to support cashless communities by reducing the risk of caring cash.
“Unayo will remove the burden of cash handling for all its players in that ecosystem and we strongly believe that this is a solution the country needs as it will be safe and convenient to all its users.” Nicolaisen said.
He further stipulated that as the bankers they look forward to a time when government ministries such as the ministry of social development will be able to disburse old age pensions directly from their bank account to recipients countrywide. They will in turn make purchases from a network of merchants across the country.
The head of digital banking and transformation for Standard Lesotho Bank, Bright Pita, suggested that “businesses will enjoy the platform because it is not only for individuals but businesses too.”
“Unayo is also a platform for businesses. Different participants will come together on the platform to share value. The platform will facilitate collection of payments in Lesotho.” Pita remarked.
All businesses are welcome to participate, business owners will be required a trading license, proof of residence and identification, Pita added.
Participants will be able to transfer money to anyone and to any bank in Lesotho. One can send money from your wallet even if you do not have Unayo.
In the future, loans will be accessed through use of the platform.
Unayo has been offered in other countries where Standard Bank Group operates such as Botswana, Malawi, eSwatini and now Lesotho.
