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Outgoing LNDC boss upbeat


 …as Mr Kelebone Leisanyane takes over as new CEO tomorrow

Rethabile Pitso

The Lesotho National Development Corporation (LNDC) is committed to making “a substantial contribution” towards government’s target to create 10000 jobs every year, outgoing caretaker Chief Executive Officer (CEO), Tsekoa Bohloa, has said.

Mr Bohloa made the remark when he was officially introducing the corporation’s new CEO, Kelebone Leisanyane, to the press on Friday.

Mr Leisanyane was Loti Brick managing director before he was appointed to head government’s investment and trade promotion showcase. The appointment comes into effect tomorrow.

Mr Bohloa had been LNDC caretaker CEO since Mr Joshua Setipa’s suspension on 11 December 2013 before a subsequent announcement by the Board that he had left the parastatal by “mutual consent” on 30 April 2014.

“The LNDC maintains good relations with banks and investors, and gives priority to engaging with local entities in the private sector, inclusive of the textile and automotive industries,” Mr Bohloa said.

“Besides the 50 percent collateral requirement by banks, which we offer in partial fulfilment to assist the private sector start their businesses, we are exploring strategies that would make financial institutions relax their mostly rigid requirements for companies to have better accessibility to funds.

“The LNDC is also implementing strategies that would allow for effortless, and faster service-delivery, where banks would disperse funds to businesses and then follow up repayments with the government.”

Mr Bohloa further said the corporation was currently refurbishing its properties around the country, and also “modernising” the Maseru Central Business District by, among others, refurbishing the LNDC Centre along Kingsway.

He continued: “We have properties that have been empty for 15 years now, such as the building  around  Mafafa as well as Sanlam Centre, which were burnt down during political disturbances of 1998.

“We are looking for a way forward into enticing the private sector to see potential investment opportunities in such places.”

Mr Bohloa also said he was happy with the recent completion of six properties alongside the Maseru golf course.

“However, we also have places such as Maputsoe Ha Nyenye, which are terribly under-serviced. There is need to deploy services such as restaurants to reduce the number of people taking business into  neighbouring South Africa,” he said.

Speaking about the agroindustry, Mr Bohloa said foreign companies had shown interest in developing the sector “to increase the capacity of our commercial farming products, which continue to impress the foreign market”.

He added: “There is need to increase products such as the Katse trout, which is doing very well in foreign markets such as Japan.

“We also signed a shareholding agreement with a London-based company called Obtala in September last year to revive, optimise and run Basotho Canners which had ceased to operate.”

Mr Bohloa also revealed new developments at the LNDC, such as talks with the China Development Bank for the disbursement of $20 million into the finance sector. The talks, he added, were approved last week

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