Business

  Rethabile Pitso Lesotho Highlands Development Authority (LHDA) Public Relations Manager Masilo Phakoe says a database facility aimed to foster partnerships between Lesotho and South African suppliers will be fully accessed on the company’s website next month. Mr Phakoe said the authority is currently working on the database link which prematurely debuted on the website […]

  NEW YORK – Three finance ministers in five days: those two numbers just aren’t adding up for traders of South Africa’s rand. Firing one long-term incumbent and then replacing his successor on the insistence of business leaders has so dented President Jacob Zuma’s economic credibility that politics will now be a long-term drag on […]

  Rethabile Pitso THE Vodacom Foundation on Monday officially launched its business incubation hub, Vodacom Innovation Park (VIP), which is meant to mentor up-and-coming entrepreneurs. The Maseru Mall-based state of the art facility has been operational for the past six weeks and already houses six businesses that made it through the application process. The entire […]

  Rethabile Pitso THE Central Bank of Lesotho (CBL) on Monday donated 166 computers to the National University of Lesotho (NUL) in a ceremony held at Lehakoe Recreation and Cultural Centre in Maseru. In her remarks, CBL Governor Dr Retšelisitsoe Matlanyane said the gesture was made under the apex bank’s human development initiative which seeks […]

  Rethabile Pitso THE Central Bank of Lesotho (CBL) has set the newly-introduced CBL Rate at 6.25 percent to align the cost of borrowing and lending with the region. Addressing a news conference on Tuesday, CBL Governor Retšelisitsoe Matlanyane said the apex bank’s Monetary Policy Committee (MPC) pegged the rate 6.25 percent after considering Net […]

  Rethabile Pitso SHOPRITE has partnered with Standard Lesotho Bank (SLB) to offer a domestic money transfer service through the supermarket chain’s outlets countrywide. The facility, which was launched in Maseru on Tuesday, allows customers to send and receive money at Shoprite and U-Save stores within Lesotho. According to Shoprite Regional Manager, Pitso Melao, the […]

  Rethabile Pitso THE Bankers Association of Lesotho (BAL), on Monday, launched a fraud awareness campaign in Maseru to alert depositors in particular and the public in general on some of the common criminal activities in the banking industry. Held under the theme “Be vigilant at all times when using your internet banking, POS and […]

  By Hu Dingxian THE long awaited sixth Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC), to be held from 4 -5 December 2015 in Johannesburg, South Africa, has been upgraded to a summit at the request of many African countries and co-sponsored by the Chinese and South African governments. This is the second […]

  Gaborone – Arid Botswana has finalised a deal with South Africa and Lesotho to tap some of the water from the Lesotho Highlands Water Project. Botswana’s Minister of Mineral, Energy and Water Resources Minister, Onkodame Kitso Mokaila confirmed this at a conference in Gaborone on the diamond industry. The aim of the conference, organised […]

  THE festive season beckons, which is a time characterised by a surge in retail transactions. Unfortunately, cases of card fraud also increase during the period. To ensure you are not a victim of the card fraud, it is important to learn the basics.  Card skimming The most common type of card fraud occurs through […]

  . . . launches localised credit card facility Rethabile Pitso NEDBANK Lesotho has become the first bank in the country to offer a localised credit card which was launched on Tuesday in Maseru. A credit card is allows the cardholder to pay for goods and services based on the holder’s promise to pay for […]

  Staff Writer ECONET Telecom Lesotho (ETL) and Standard Lesotho Bank (SLB) will today launch a new mobile money platform that enables their customers to transfer funds via the EcoCash Spache-Fono platform. Dubbed, Bank to Wallet, the first of its kind facility allows SLB account holders to deposit money directly into their own EcoCash Spache-Fono […]

  Rethabile Pitso QHOKO Masokela drove away from Masianokeng Service Station in Maseru with a brand new Totoya Etios on Saturday after winning a Total Lesotho (TL) competition which had been running since August. An elated Mr Masokela, who is a taxi-owner from Matsieng, said while he had submitted numerous forms to increase his chances […]

  Staff Writer PARAGON Diamonds on Monday warned of “material uncertainty” over its financial position until a funding package is secured. The Alternative Investment Market-listed company, which committed to buy a 75 percent stake in Lesotho’s Mothae Diamond Mine from Canada’s Lucara Diamond in May, had trading in its shares temporarily suspended on Monday until […]

  ECONOMIC activity in Lesotho declined by 10.2 percent in the second quarter of 2015 owing to the delay in the presentation of the budget. This is according to a Central Bank of Lesotho (CBL) Quarterly Review of monetary and financial activity for the period March to June 2015. The review notes that the subdued […]

Rethabile Pitso THE Lesotho Tourism Development Corporation (LTDC) on Saturday co-hosted a two-day workshop in Thaba Tseka to promote sustainable tourism and raise awareness about road signage vandalism. According to LTDC Senior Tourism Officer Molapo Matela, the workshop was held in conjunction with the Lesotho Red Cross and Sentebale Charity. Among the attendees were scores […]