Letete appointed new Central Bank governor

MASERU – THE government has appointed Dr Maluke Letete as the new governor of the Central Bank of Lesotho (CBL) with effect from June 1. In a statement issued yesterday, the government said it was appointing Lehlomela Mohapi as its first Deputy Governor.

Mohapi has been the acting governor after Dr Retšelisitsoe Matlanyane’s contract expired earlier this year. Dr Letete holds a Doctor of Philosophy (PhD) in Economic Science, Financial Economics, Political Economy and Institutional Economics from the University of Cape Town.

Dr Letete brings significant experience of the CBL’s mandate to his new role, having sat on the Bank’s Board of Directors as a Non-Executive Director for more than five years. He last served as Chief Economic Adviser to the Prime Minister of Lesotho and Head of the Accountability Unit.

Dr Letete has also held senior roles at the National University of Lesotho (NUL). He served as a Senior Lecturer and Head of the Economics Department between 2006 and 2018.

He also served as a lecturer in Macroeconomics at the University of Cape Town and a Consultant for the United Nations Development Programme (UNDP), Southern African Development Community (SADC) and International Development Research Centre (IDRC/HEARD) amongst others.

Mohapi holds an MSc in Economics and Econometrics from the University of Manchester and an MBA from Edinburgh Business School Watt University. Prior to his appointment as Acting Governor, Mohapi was the Chief Economist and Director of Research and Secretary of the Monetary Policy Committee of the Central Bank for over nine years.

Mohapi has served as Board Chairman for the Lesotho Revenue Authority and the Fund Executive Secretary for the Lesotho Communications Authority. He has also served as Senior Lecturer and Head of Economics Department for the National University of Lesotho.

Refiloe Mpobole