LNDC lays out vision

MASERU – The Lesotho National Development Corporation (LNDC) outlined its vision and plans for the next five years.
The outline was unveiled at the Strategic Plan 2018-2022 Stakeholders Engagement Session in Maseru yesterday.
Stakeholders included the Lesotho National Farmers Unions, local banks, small businesses representatives and the National University of Lesotho (NUL).

According to the Trade Ministry Principal Secretary, Thebe Mokoatle, the corporation also shared how it will reposition itself in the agriculture and manufacturing sector.

Mokoatle said the LNDC intends to strengthen Lesotho’s opportunity as a sourcing destination through facilitating compliance to international requirements for trade and investments.
“In the next five years the LNDC will be on how well it has improved from the negativity on the environment around which they operate,” Mokoatle said.

The chief executive officer of LNDC, Mohato Seleke, said Lesotho has high level of concentration – three products out of 96 percent contributed to exports for the period of 2014/2016. 3 percent is counted for out of 80 percent. Seleke said industrial output does not bear anything.
However, 96 percent of products are exported to overseas, the United States, Belgium and South Africa.
He noted that the LNDC believes that something has to happen on the production side. Also, Seleke said LNDC has had a little impact on processing.
“We are at a stage whereby we have to move to other stakeholders. The corporation has therefore made a choice to be active in the manufacturing sector, that is, expand on it,” Seleke said.

He said countries like Israel, the Netherlands and Singapore are more or less the same size as Lesotho.
Seleke stated that Israel has one source of water being Lake Galilee whereas the Netherlands is a high agricultural powerhouse because they are the biggest exporters of potatoes.

He said the corporation is aiming for a shared and inclusive economic growth, to borrow from the UN Agenda 2030 slogan, which says “we are leaving no one behind”.

“The success of investments will not only be judged by the size of the balance sheet and bottom line but the real impact on the communities. The number of entrepreneurs will have developed into industrialists,” he said.

Seleke further said their presentation is not only about jobs but income – income as a dividend cheque and capital gain.
“LNDC will therefore create jobs, thousands of them for people to gain income,” he said.

Motšelisi Mokhethi from NUL Faculty of Business said they are grateful for the initiative which LNDC is about to embark on. She said the LDNC will be able to support the youth and their businesses so that the economy will be improved.

Mokhethi also said the initiative will give hope to upcoming entrepreneurs since they have business ideas that they have to propose to the LNDC.
Seleke said they are encouraged and hopeful that they shall be together with all stakeholders till the end.

He said the participation through questions, recommendations and sharing of ideas as well as proposed solutions to this country’s socio-economic challenges displayed a sense of ownership adding they are not in this fight alone.
With feedback given LNDC will be able to refine its strategies, he said.

“We are definite that the necessary impact will be felt by Basotho across all levels of society as we move into implementation.”

Tokase Mphutlane