The Kingdom of Lesotho is home to some of the world’s most beautiful travel destinations, waterfalls and mountains. Dubbed the ‘Kingdom in the Sky’ because of its mountainous landscape and altitude, this small but beautiful country is the ideal escape for travel enthusiasts.
As a travel content creator and columnist, some of the frequently asked questions I usually get are ‘what currency is used in Lesotho?’ ‘Can I use my debit or credit card?’ ‘Which banks are available in Lesotho?’
To answer these questions, this article provides money tips when visiting Lesotho, especially for the first time. What should you know about the currency and the financial services industry in Lesotho?
Pay with the local currency
The local currency in the mountain kingdom is the Lesotho Loti (LSL), plural Maloti. Issued by the Central of Bank of Lesotho (CBL), the currency bears the faces of King Moshoeshoe I, King Moshoeshoe II and King Letsie III. In April 2023, the CBL launched the new M200 bank note to mark His Majesty, King Letsie III’s 60th birthday.
The Loti is pegged one-to-one to the South African Rand (ZAR), allowing visitors to use rands in Lesotho. Travellers can access the local currency from any of the four local banks with branches and automated teller machines (ATM) country wide.
Use debit or credit cards
Many retailers, guest houses, hotels and restaurants in Lesotho have point of sale devices (POS) that allow you to use your debit or credit card to pay for things conveniently. You can tap or swipe your card at most POS devices, with some allowing you to use your virtual cards or smartphones to pay. Should you need to withdraw cash, ATMs are available as mentioned above and cashback withdrawals available at some of the local supermarkets.
Carry some cash
Although many service providers countrywide have POS devices, it is advisable to carry some cash when traveling in Lesotho or exploring this beautiful country, especially in the rural or remote areas of the country. Some communities and destinations still prefer cash or mobile money when paying for goods and services, entrance fees and activities because they do not have ATMs nearby.
Foreign exchange providers
Lesotho’s financial services sector comprises of commercial banks, asset management and insurance companies, mobile money issuers, foreign exchange bureau and money transfers, FinTech companies, micro finance and pension fund institutions. To ensure your safety and protection when transacting in Lesotho, it is important to familiarise yourself with licensed and regulated financial services providers. The list of licensed financial institutions is available on CBL’s website at https://www.centralbank.org.ls/images/Public_Awareness/LFI_Double_Spread_Newspaper_Insert_May_2023_.pdf
As you explore and discover this beautiful country, a place many of us call home or ‘ke lapeng’ in Sesotho, I encourage you to transact safely, spend wisely and tip generously. Allow the beauty of the Kingdom in the Sky and its people to leave a long-lasting imprint in your heart.
