By TKay Nthebe
Every consumer of financial products and services in Lesotho has a right to be treated fairly and be given honest and proper financial advice. As a consumer, it is therefore important to familiarise yourself with the relevant laws such as the Financial Consumer Protection (FCP), 2022.
Why is the FCP important?
The Financial Consumer Protection Act seeks to protect and outline the rights of consumers of financial products and services. The infographic below provides a summary of what you should know as a consumer of financial products and services. This list, however, is not exhaustive. You can also download the full Act on the Central Bank of Lesotho’s website.
What you should know about the Financial Consumer Protection Act
As we draw closer to the 2023 Global Money Week (GMW) and Lesotho Money Month campaign in March and April respectively, I encourage Basotho to familiarise themselves with the Financial Consumer Act. The theme for this year’s Global Money Week is “Plan your money, plant your future.” To effectively plan your money and prepare for your future, you must know your rights and responsibilities. Download a copy of the Act and speak to a financial services provider about your rights and responsibilities. Likhomo!
