Maseru – The 10th Chief Executive of the Lesotho National Development Corporation (LNDC) Kelebone Leisanyane was unveiled to the media today in Maseru, the capital city of Lesotho, to assume duties from a Caretaker Chief Executive.
In an exclusive interview with newsline365.wordpress.com at the headquarters of the government owned investment’s corporation, Leisanyane said he intends to increase investment promotion operations of the parastatal.
“For many years up to now, the corporation’s emphasis has been on investment in textile and garment sectors which are a large employer. We should now diversify and explore into agro-industry in which an ordinary Mosotho can contribute,” said Leisanyane.
Explaining that agro-industry was his passion, Leisanaynae who is armed with a 30 year experience in private sector, said there was a need to also tap into import substitution to allow local products to dominate the market in order to benefit the people.
Leisanyane, the 10th chief executive, of the 47 year-old LNDC starts his new role in December 01st 2014 after with a local bricks producing Loti Brick for eight years, as its Managing Director. He has been appointed by the LNDC board with the approval of the minister of trade, cooperatives and marketing.
During the unveiling of the new boss, the Caretaker Chief Executive Tseko Bohloa narrated a string of success achieved by the corporation, saying it has invested in infrastructure in the form of commercial and industrial buildings.
“We have gone through a process for introspection to adapt to new ethos that places us at the centre of high standard of service delivery,” he revealed at the media briefing.
He suggested that any limitations in infrastructure development would be remedied by a private-public sector participation model which would attract new funding sources.
On financial products he revealed the LNDC, which generates around M50 million annually, has already agreed with the London listed company Obtala for optimising the running of Basotho Canners, a LNDC wholly owned subsidiary firm specialising in canning local fruits.
It also plans to increase Katse dam trout fish farming development initiative, added Bohloa who represented the Lesotho Chamber of Commerce and Industry on the LNDC board.
According to Bohloa the corporation offers a partial credit guarantee scheme of up to 50 per cent credit finance provided by the banks. The scheme, according to Bohloa, has taken off well as it is now at 65 per cent utilisation on guarantee limit of M10 million.