Bereng Mpaki

THE recently appointed Nedbank Lesotho Managing Director, Nkau Matete, has promised to maintain the high standards of service delivery at the bank during his tenure.

Mr Matete, who was officially unveiled by the Nedbank Group’s Chief Executive Officer, Mark Brown, during his first visit to Lesotho earlier this month, becomes the first local in position that has been held by expatriates for the past 22 years.

Apart from Nedbank Lesotho, the only other foreign-owned commercial bank operating in Lesotho led by a local principal officer is Standard Lesotho Bank, which is led by Mpho Vumbukani.

Mr Matete, who officially started work as Nedbank Lesotho’s Managing Director at the beginning of this month, said he is ready to ensure that under his stewardship, the bank meets the customers’ expectations.

“I will do my best to meet the Nedbank customers’ expectations during my leadership,” Mr Matete said.

Mr Matete has also called on the private sector to reclaim its role in developing the country’s economy. He said the private sector should act as if there is no government for it to impact on the community’s lives.

Matjato Moteane, who is the chairperson of the Nedbank Lesotho board, said Mr Matete’s appointment was made possible through the approval of the board as well as that of the Central Bank of Lesotho as the regulator of financial institutions.

He also said that Mr Matete’s appointment has been welcomed by His Majesty King Letsie III.

Mr Matete has extensive experience at the executive level having worked as Managing Director at Metropolitan Lesotho for over 12 years, where he contributed to the insurance giant being the market share leader in the insurance industry.

Mr Matete holds a Master of Business Administration (MBA) from the University of Pretoria attained in 2006 and also holds a first degree from the National University of Lesotho.