…seal cooperation agreement
Moroke Sekoboto
THE Lesotho Regulators Forum (LRF) – a coalition of regulators from various sectors – has committed to enhancing the efficiency and coherence of regulatory responses by sharing critical information and insights to manage risks.
As part of the initiative, the LRF will conduct joint investigations, engage in capacity-building efforts, and harmonise approaches to enforcement and compliance.
The Forum comprises the Central Bank of Lesotho (CBL), Directorate on Corruption and Economic Offences (DCEO), Financial Intelligence Unit (FIU), Land Administration Authority (LAA), Lesotho Communications Authority (LCA), Lesotho Electricity and Water Authority (LEWA), Lesotho Mounted Police Service (LMPS), Lesotho National Development Corporation (LNDC), Ministry of Trade, Industry and Business Development (MTIBD), and Revenue Services Lesotho (RSL).
Speaking during the signing ceremony of the multi-institutional cooperation agreement held on Friday at Victory Hall, LRF Co-Chair, Advocate ’Mathabo Mokoko – the RSL Commissioner General, said the agreement marked a major step forward in the way the regulators collaborate, coordinate, and drive impact across their respective sectors.
Adv Mokoko said the presence of institutions spanning the financial, law enforcement, trade, energy, land, communications, and revenue sectors demonstrated a shared vision to build a secure, compliant, and enabling environment for inclusive economic and social development in Lesotho.
“We have long understood that no single institution can effectively tackle the increasingly complex and interconnected regulatory challenges of our time,” Adv Mokoko said.
She also said issues such as financial crime, market misconduct, systemic inefficiencies, and regulatory overlaps required a united front built on mutual trust, shared responsibility, and strategic coordination.
“Through this agreement, we are committing to: improving the efficiency and coherence of our regulatory responses; sharing critical information and insights to mitigate risks; conducting joint investigations and capacity-building efforts; and harmonising our approaches to enforcement and compliance.”
Adv Mokoko further welcomed the institutionalisation of the partnership through the formation of an Executive Committee and a Technical Working Group, which will oversee governance, accountability, technical engagement, policy innovation, and long-term sustainability.
“We reaffirm our commitment to walk this journey of cooperation with purpose, transparency, and unwavering dedication to the principles that underpin this Forum.
“The task ahead is immense, but so is the opportunity. Together, let us build a regulatory ecosystem that protects our institutions, empowers our economy, and safeguards the interests of the Basotho people.”
LRF Secretariat, Pheello Mphana, also from the RSL, said the agreement was the culmination of extensive dialogue, mutual understanding, and a shared vision for stronger institutional coordination. He emphasised that it marks a significant step toward resolving regulatory overlaps, closing operational gaps, and improving service delivery for the benefit of the nation.
“The significance of this agreement cannot be overstated. It reflects our joint aspiration to promote transparency, reduce the cost of compliance, and build a regulatory environment that supports sustainable development and investment.”
Mr Mphana said the initiative dates back to 2020, with institutions showing consistent commitment over the years.
“As the Secretariat, we are particularly proud to witness the unwavering support and leadership demonstrated by all participating institutions. Your dedication sets the tone for a new era of cooperation, one where regulators work in partnership, united by common goals.”
He expressed gratitude to all stakeholders, including drafting teams and institutional leadership, for their contributions toward reaching this milestone.
“As we proceed with the signing ceremony, let us do so with a spirit of purpose and unity, keeping in mind that the real work begins after today through the execution of this agreement and the measurable impact it will bring to the people we serve,” Mr Mphana said.
For his part, LRF Executive Committee member, Nizam Goolam, who is also the LCA Chief Executive Officer, emphasised the critical role of collaboration among regulatory institutions.
He reiterated the Forum’s commitment to reducing regulatory overlaps and improving coordination across sectors.
“As we formalise our collective commitment to regulatory collaboration, efficiency, and innovation across key sectors in Lesotho, we move one step closer to a more integrated and effective regulatory landscape,” Mr Goolam said.