THE Central Bank of Lesotho (CBL) has appointed Lehlomela Mohapi its acting governor to replace Retšelisitsoe Matlanyane, whose contract expired on 31 December 2021.
Dr Matlanyane’s term of office expired along with those of her two deputies, Masilo Makhetha and ‘Mathabo Makenete (first and second deputy respectively).
The CBL this week immediately tasked Mr Mohapi with leading the institution in implementing its three-year strategic plan which will run from 2022 until 2024.
The CBL said in a statement Mr Mohapi would also focus on enabling private sector investment for job creation purposes.
The 2022-2024 strategic plan is meant to align the CBL’s mandate to emerging changes in the operating environment such as the Covid-19 pandemic, economic conditions, technology diffusion, cyber threats and changing work patterns.
The strategic plan consists of six objectives with the first three addressing issues related to the economy and the (financial) sector, while the other three objectives address the bank’s capability, agility and sustainability.
“With the 2022-24 strategic plan in place, Mr Mohapi’s task is to lead the implementation of this strategy up to a point when he will pass the baton to the still-to-be-appointed substantive Governor,” the CBL said.
Mr Mohapi is also expected to lead the bank in creating an enabling environment for private sector investment for job creation.
“Jobs are a result of investment, and unemployment is the single most culpable cause of poverty. Ours as the bank is to put in place the bedrock of macroeconomic stability, specifically monetary and financial stability, upon which the foundations of prosperity can be laid.”
Born and raised in Ha-Moliboea, in Leribe, the 44-year-old is an experienced economist, who is the substantive chief economist and director of research of the CBL.
He was previously the executive secretary of the Universal Service Fund in the Lesotho Communications Authority (LCA).
His experience in risk and governance includes a three-year term as the Lesotho Revenue Authority (LRA’s) board chairperson.
Mr Mohapi was also previously a lecturer in the National University of Lesotho (NUL’s) Economics Department where he rose through the ranks to become the head of department.
His research work consists of many advisory reports he authored for the government as well as some for various international organisations. He has also written numerous academic articles some of which appear in respected journals like the South African Journal of Economic and Management Sciences, Studies in Economics and Econometrics, The Journal of Business and Economics Studies and Journal of Social and Economic Policy among others.
He is also writing his first book, Taking the First Steps in Economics.
Mr Mohapi holds a Bachelor of Arts (BA) in Economics from the NUL, a Master of Science (MSc) in Economics & Econometrics from the University of Manchester in the UK and a Master of Business Administration (MBA) degree from Heriot-Watt University (UK).