THE Lesotho National Development Corporation (LNDC) has appointed Kelebone Leisanyane as its new Chief Executive Officer (CEO), with effect from 1 December 2014.
Mr Leisanyane is currently the Managing Director of Loti Brick—Lesotho’s premier brick-manufacturer whose major shareholder is the government—and replaces Mr Joshua Setipa who left the LNDC on 30 April 2014 after a bitter fallout with the Board over a number of issues, among them alleged maladministration.
In a statement released on Friday, the LNDC noted: “The Minister of Trade and Industry, Cooperatives and Marketing, under the advice and recommendation of the Board, has appointed Mr Kelebone Leisanyane as the Chief Executive Officer of the Lesotho National Development Corporation.
“Mr Leisanyane will assume duty on the 1st of December 2014, and is currently the Managing Director of the Loti Brick company.”
According to the statement, Mr Leisanyane brings vast experience to the LNDC after holding equally senior posts in a number of local companies.
“Mr Leisanyane holds Board Directorships in a number of companies in Lesotho that include Standard Lesotho Bank, Lesotho Floor Mills and Lesotho Revenue Authority, and has also been a director at Econet, a member of Council of the National University of Lesotho, and a member of the Board of the Centre for Accounting Studies. Mr Leisanyane holds a Bachelor of Engineering Degree and Master of Business Administration. He brings with him a lot of Corporate Management Experience,” adds the statement.
The LNDC is wholly owned by the Government of Lesotho and falls under the Ministry of Trade and Industry, Cooperatives and Marketing. Its mandate is to initiate, promote and facilitate the development of manufacturing and processing industries, mining and commerce “in a manner calculated to raise the level of income and employment in Lesotho”.
The development finance institution also has a role to promote Lesotho as an attractive investment location and destination for both foreign and indigenous investors.
– Staff Writer