Mathatisi Sebusi AN alarming 60 percent of state-owned enterprises (SOEs) and companies in which the State owns shareholding have failed to pay dividends to the government as expected. In fact, some of them, according to a parliamentary report, have never paid any dividends to the State, since their inception, raising suspicions that they might be engaging in creative accounting to […]
—As brewery opposes latest alcohol levy hike Mathatisi Sebusi THE Ministry of Finance and Development Planning and the Maluti Mountain Brewery (MMB) must dialogue over the proposed 2.5% increase in the alcohol levy which MMB says will further cripple its operations. The recommendation for talks is contained in a report of the Economic and Development Cluster portfolio […]
….as committee demands evidence of withdrawal of court case Mohloai Mpesi THE Portfolio Committee on Natural Resources has directed the Ministry of Public Works and Transport to provide evidence that a court case it filed against the Public Accounts Committee (PAC) has been withdrawn. The committee wants to see that evidence first before it […]
Africa’s leading financial service provider, Mukuru, has stepped up to provide a solution for customers in South Africa, Lesotho, and Eswatini by leveraging its extensive cross-boarder network to help them adapt to the recently revamped cross border transfer regulations in the region. The financial landscape of the Common Monetary Area (CMA) is poised to […]
Mathatisi Sebusi BRIDGING medical emergency services gap in Lesotho and saving lives, which could otherwise be needlessly lost, is Vitality Health Lesotho’s primary mission. This is according to Vitality Health Lesotho Executive Director, Semethe Raleche, who in a recent interview told the Lesotho Times that their vision of saving lives, was driven by numerous rejections from […]
Leemisa Thuseho THE Nedbank Group has delivered a strong performance in first half of the year which saw its headline earnings increasing by 8% to M7.9 billion. The interim financial results for the first six month ended on 30 June 2024 indicate that the group’s return on equity (ROE) also improved to 15,0% from 14,2% in […]
Hopolang Mokhopi Effective September 14 2024, cross-border transactions will require more detailed information, including the origin of the transaction, the sender’s occupation, both the sender and receiver’s residence, and the purpose of the transaction. This announcement was made at a press conference hosted by the Bankers Association of Lesotho (BAL) yesterday at Lancers Inn. This is in line […]
Moroke Sekoboto Alliance Insurance has embarked on an ambitious affordability campaign aimed at promoting financial inclusion and literacy among Basotho. Dubbed Ska wara, hae turu (loosely translated, Don’t worry, it is not expensive), the campaign began in late May and will run for 12 months, focusing on home and vehicle insurance. The campaign aims to change perceptions, educate the […]
Moroke Sekoboto THE Revenue Services Lesotho (RSL) has partnered with the Agents of Foreign Firms Association of Lesotho (AFFAL) to try and enhance compliance by its members with the RSL’s revenue collection systems. The AFFAL represents foreign companies which do business in Lesotho. It helps them with border clearance and customs compliance issues. The two […]
Letsatsi Selikoe BANKING powerhouse, Nedbank Lesotho, has unveiled two “exciting” campaigns directed at its personal banking clients, schools as well as promoting domestic tourism. It has pledged M200 000 for these campaigns which are part of the bank’s events to celebrate 200 years of the Basotho nation’s existence. The bank is offering a range of prizes and incentives for customers who […]
Hopolang Mokhopi CONSUMERS have been spared the wrath of economic inflation as the Central Bank of Lesotho’s Monetary Policy Committee (MPC) has kept the repo rate unchanged at 7.75 percent. The repo rate is the rate at which the central bank lends to commercial banks. An increase in the repo rate immediately translates into increased […]
Letsatsi Selikoe THE Lesotho College of Education (LCE) and Vodacom Lesotho Foundation will sign a Memorandum of Understanding (MOU) today, marking a significant partnership aimed at enhancing Information Communication Technology (ICT) skills for Lesotho’s teachers. The hub will provide a platform for pre-service and in-service teachers to develop their ICT skills, enabling them to effectively […]
Leemisa Thuseho THE Revenue Services Lesotho (RSL) have completed its series of educational clinics aimed at improving clients’ tax compliance by enabling them to file their tax returns and pay taxes online using the RSL e-taxation platform (e-filing). The clinics were held for various businesses and their employees in Berea and Maseru. Sectors that benefited from the workshops include retail, wholesale […]
Hopolang Mokhopi FIRST National Bank (FNB)-Lesotho has officially launched its card localisation scheme aimed at enhancing financial inclusion and facilitating payments. The FNB-Lesotho card localisation process is being done as a requirement in line with the Central Bank of Lesotho (CBL)’s recent introduction of the LeSwitch system. Card localization is created to link with different […]
Staff Reporter Standard Lesotho Bank (SLB) is currently holding a week-long career guidance programme for High School students across five districts in the country. The Bank has invested M150 000 towards the annual Bank Career Expo organised by Mind Liberation Psychology. Dubbed the 14th Annual Standard Lesotho Bank Career Expo, the five-day nationwide event seeks to expose High […]
Mohalenyane Phakela THE Nedbank Group has once again achieved a stellar performance, attaining all its targets for the financial year ended 31 December 2023. According to the bank’s managing executive: Nedbank Africa Regions (NAR), Terence G Sibiya, the financial institution grossed M15.7 billion in earnings despite a challenging operational environment, an 11 percent increase from the previous year. The results are for the NAR group which encompasses Lesotho, South Africa, eSwatini, Mozambique, […]
…to help clients achieve their dreams Moroke Sekoboto STANDARD Lesotho Bank (SLB) this week launched another cycle of its Lending Campaign aimed at making it easy for clients to access loans from the bank. The bank said the campaign was testament to its commitment to serve its clients better and creating value intended to help them realize their […]
Tokelo Khausela MUKURU has enhanced their current product suite to enable customers to instantly transfer funds from Lesotho to any major bank account in South Africa. Speaking to the Lesotho Times on Tuesday this week, Mukuru’s Lesotho Country Manager ‘Maleseli Mohapinyane, said convenience is one of their specialties as a fintech. “Customers can transfer money […]
Moroke Sekoboto THE Central Bank of Lesotho (CBL) has kept the repo rate unchanged at 7.75 percent, cushioning hard pressed consumers from immediate interest rate hikes. The repo rate is the rate at which the central bank lends to commercial banks. An increase in the repo rate immediately translates into increased interest rates on things […]
Moroke Sekoboto Mobile money platform, Mukuru, has enhanced its money transfer services as monies deposited via Mokuru Lesotho platforms can now reflect into South African accounts within an hour. Mukuru Lesotho Country Manager Maleseli Mohapinyane said they have enhanced their current product suite to enable customers to instantly transfer funds to any major bank account in […]
Lesotho, known as the “Kingdom in the Sky” due to its mountainous terrain, faces a pressing crisis related to water security and aging infrastructure. This landlocked nation’s economy, agriculture, industries, and services sector heavily depend on a reliable water supply. However, infrastructure challenges have threatened this crucial resource. Abeco Tanks, a renowned provider of water […]
Leemisa Thuseho/Moroke Sekoboto Finance and Development Planning Minister, Rets’elisitsoe Matlanyane, has urged newly appointed Revenue Services Lesotho (RSL) Commissioner-General, ‘Mathabo Mokoko, to broaden the tax net to help the institution meet its mandate. Dr Matlanyane said this would ensure more institutions are paying tax instead of a few entities, adding a fair tax system treats […]
Seithati Motšoeneng Mothae Kimberlite Mine has beaten its Angolan sister company, Lulo Alluvial Mine, in diamond production from the period January to June 2023. The two companies are owned by Australian company, Lucapa Diamond, with Mothae situated in Butha-Buthe while Lulo is in Angola. Mothae discovered a total of 15 560 carats while Lulo managed […]
When we look back at bubbles and crashes through history, we often placate ourselves by thinking “nobody saw it coming back then, but if I had been alive I would’ve seen the idiocy and avoided that bubble.” That’s a much easier narrative to accept than the truth: Many people saw these bubbles and crashes coming, […]
Moroke Sekoboto Mining giant, Letšeng Diamond, on Friday donated a Toyota Land Cruiser to the Lesotho Mounted Police Service (LMPS). The donation was part of Letšeng’s efforts to assist the police combat rampant crime afflicting the nation, under the mine’s corporate social responsibility (CSR) initiative. Accepting the vehicle at a handover ceremony held at Police […]
Tokelo Khausela MICRO-LENDER, Letshego Financial Services Lesotho, yesterday launched a scheme meant to provide financial relief and convenience to customers to streamline their debt-management while benefiting from reduced interest rates. The initiative is dubbed Letsgo campaign and was launched at Lancer’s Inn in Maseru. It is intended to provide Letshego customers with the opportunity to […]
Tokelo Khausela MICRO-LENDER, Letshego Financial Services Lesotho, yesterday launched a scheme meant to provide financial relief and convenience to customers to streamline their debt-management while benefiting from reduced interest rates. The initiative is dubbed Letsgo campaign and was launched at Lancer’s Inn in Maseru. It is intended to provide Letshego customers with the opportunity to […]
Seithati Motsoeneng Telecommunication powerhouse Vodacom Lesotho has handed over 2000 pairs of school shoes to the Ministry of Education for onward donation to vulnerable children in the districts of Mokhotlong, Thaba-Tseka, Leribe, Quthing and Qacha’s Nek. Each district will get 400 pairs of the footwear. The donation was made through the Vodacom Lesotho Foundation—the charity […]
Tokelo Khausela The Ministry of Finance and Development Planning’s tax-collection arm, Revenue Services Lesotho (RSL), has missed its quarterly target for Value Added Tax (VAT) by about M150 million. According to the ministry’s quarterly performance report tabled before parliament’s Economic and Development Cluster Portfolio Committee last week, the RSL had been set a quarterly target […]
This is Pick n Pay’s second store after the Pioneer Mall branch, which opened in 2009. The supermarket first opened its doors at the Masianokeng Lifestyle Centre on 12 August 2020 amidst the challenging Covid-19 pandemic era. The store occupies 1900 square-metres (sqm) of the shopping centre. The main store (1700 sqm) offers edible and […]
