An opportunity to fix Lesotho

This country has faced many difficult times. As a citizen there are times when I feel like circumstances just do not seem fair. Generations after generations we seem to be failing to take this country out of poverty. Basotho still struggle just to survive at times. I have felt like I was all alone many times and I am sure so many Basotho feel alone. Living in this country sometimes feels like the pain, the hurt, the difficulties and poverty will never end. Many times when I walk into the homes of Basotho I can tell that these feelings of pain, hurt and suffering are real. A nation blessed with so much yet the egos and hatred of its leadership from top to bottom keep us engaged and angry as the suffering fails to go away. Our major problem as a nation is that we seem to stay stuck in one place and cannot find a way out. What destroys us is the fact that our people cripple themselves or limit themselves with old thoughts and beliefs that no longer serve them yet they still stay stuck. If we cannot step back and recognise the fact that we are stuck, we will never be able to move forward as a nation. It is all about looking ourselves in the mirror to see what we are unconsciously doing to yourself and then making a conscious decision to face the other direction. Sankomota has a song I love, “It’s now or never.” This week I want us to look at old agreements that have kept us stuck for decades. I will look at three major organisations that government has a stake in, namely: Econet Telecom Lesotho, the Lesotho Highlands Development Authority (LHDA) and Lesotho Flour Mills. Recently Econet Telecom Lesotho’s licence came to an end and the Lesotho Flour Mills management agreement came to an end in 2019 and it was renewed by one year and the LHDA partnership between Lesotho and South Africa will be reviewed in 2022. Should we be stuck in our old ways of doing things and keeping Basotho poor? I do not know about you, but as for me and my house we are tired of poverty, unemployment, suffering and pain. Let me tell you something, we must start by changing our thoughts, feelings and emotions because what we think, feel and believe will become our reality every single time without exception. We must choose to start doing things right, making decisions that will benefit future generations instead of few individuals sitting on the negotiation table. I pray and hope that when we deal with Econet Lesotho, Lesotho Highlands Development Authority (LHDA) and Lesotho Flour Mills we will start by focusing on and finding what is right for the progress of this nation. I deliberately want us to start with these three organisations, some people might think it is small but what matters is for us as a nation to start thinking in the right direction.…even if it is small. One baby step at a time will get us to where we want to go. Finding things that set us on the right trajectory every moment of every day. What is right for Basotho? What is good for Basotho? In 2008 the Government of Lesotho sold its shares to Econet and Basotho remained with 30%. The bottom-line of every business is profits but this company has been a going concern for the past 12 years, yet the majority shareholder seems to be happy with its non-performance. The only thing remaining for this company is for it to change to a not for profit organisation. Econet Lesotho’s licence has expired and government of Lesotho has been screwed for years without getting dividends. Econet Lesotho still needs to pay loans it took with government guarantees. I have noticed that Lesotho Communications Authority has issued a notice to the public for Basotho to express their views on the renewal of the licence. I am sure Basotho will be able give their opinions but I strongly feel that the government has a major role to play here as our shares as a nation are entrusted in their care. The government needs to be proactive this time around. This company that has not made profits in 12 years needs to be evaluated, then Basotho or the government should be given an opportunity to buy those shares. Sekhametsi, a Basotho owned company owns 30% shareholding in Vodacom, the owners have benefited so much from their investment. This country needs more companies like Sekhametsi. Who knows maybe we can create another successful Sekhametsi with 30% shareholding in Econet Lesotho. Basotho who invested will have an interest in addressing transfer pricing, intermediate companies owned by the owner of Econet Group that have taken money out of Econet Lesotho and make sure financial statements are not manipulated. Let us look at Lesotho Flour Mills, thank God the management agreement expired in 2019 and it was renewed for a year. It ends in December 2020. For the past 20 years the government of Lesotho has been screwed and our people have never benefited from this deal. The government has to take a bold decision and never renew the management contract. I have always asked a simple question: What is the interest of Sea Board in a company that is surely failing its shareholders? This company also needs to be evaluated. I am sure its shares will be so cheap given that it has not made profit in the past 21 years. It will interest you to know that Lesotho Flour Mills was the only profitable company when the government decided to privatise state-owned enterprises. In 1999 Lesotho Flour Mills which was then in the hands of the government was making profits, but all of a sudden everything has changed when it went into private hands. In 2022 the LHDA agreement will have to be reviewed. That would be a great opportunity for Basotho to fix the mess that has not benefited this country. We have to prepare for this period when it comes and make a deal that is in the best interest of Basotho. I still maintain the current deal does not favour Basotho. In the midst of dwindling SACU revenues why do we need to continue getting the royalties we can get yet SACU revenues were included in factors that determined how much we shall get for our water? Even with the Botswana Agreement we must never repeat the same mistake we made with South Africa. If there is a market in Botswana for our water, we must build the dams with the money we raised as a country from capital markets or sovereign funds. I doubt we will encounter problems because this is a viable business. The reality of it is, as a country we need to have our own support system as no-one else will do it for us. We must have a different way of thinking and doing business. The good news is the pain is there for a very good reason. Every pain we experience will give us more strength. You truly do gain from pain. If we are to change it will be a very painful process but we must face it. How these three organisations have been run should be a wake-up call for us as a nation. As a nation we can take deliberate steps to move forward. Ramahooana matlosa