FNB Lesotho appoints new board chairperson

Moroke Sekoboto

Banking conglomerate, First National Bank,  has appointed Mazvivamba Maharasoa as the first local as well as  the first female chairperson of the board of directors of its local subsidiary.

A statement by  FNB Lesotho said Ms Maharasoa, prior to her latest elevation,  had joined the FNB Lesotho Board  in September 2020   as a non-executive director.

Ms Maharasoa is a holder of a Masters in Law (LLM) degree (International and Commercial Law) from the University of Buckingham in the United Kingdom.   She served as chief executive officer (CEO) of Letseng Diamonds for more than eight years.  Prior to that,  she had served in the roles of board secretary and legal advisor for different institutions.

Ms Maharasoa is also a corporate governance specialist.

Ms Maharasoa is currently,  a non executive director of Gem Diamonds Limited, which is listed on the London Stock Exchange and is the parent company of Letseng Diamonds,  is a member of the Institute of Directors (IOD), and played an instrumental role in the drafting of the “Mohlomi Code”. She is a seasoned director who has served on the boards of  different  corporate behemoths.

The Mohlomi Code is a codification of sound corporate governance principles meant as a guide for directors to foster proper and ethical standards in the management of businesses. It was crafted along the lines of South Africa’s  King codes on corporate governance.

FNB Lesotho CEO,  Delakazi Mokebe,  said the bank’s local management  was excited to have Ms. Maharasoa on its board.

“The FNB Lesotho Management team is excited to have reached this milestone,” Ms Mokebe said.

“We appreciate the vast experience ‘M’e Mazvi has gained in various board and executive positions; her governance expertise, knowledge of the market and leadership skills that she has brought to the FNB Lesotho Board,” Ms Mokebe said.

Ms Mokebe said her  management team was confident that Ms. Maharasoa would add value to the bank.

“We know that she will continue to add immense value to all our stakeholders and the Bank as a whole. We thank Ntate Ian Leyenaar, outgoing chairperson for his stewardship over the past six years,” Ms Mokebe said.

Ms Mokebe was appointed FNB CEO in 2020 replacing South African Bradwin Roper, also becoming the first female Mosotho to lead a commercial bank in Lesotho.