Home | Search | Links | Contacts | Feedback

PRIVATISATION UNIT
2nd Floor
Lesotho Bank Mortgage Division
Private Bag A249
Maseru.100
Contact: Makalo Ntšasa
Tel:317902 Fax:317551
Email:mntsasa@adelfang.co.za


For immediate Release
Thursday, 24th July, 2002.


THE PRIVATE SECTOR ADVISORY COMMITTEE MEETING

1. The Private Sector Advisory Committee, which is a body consisting of Government, Trade Unions, Women Associations and the Private Sector Representatives created under the Privatisation Act to advise Government on the implementation of the Privatisation Project, held an important meeting at Maseru Sun Cabanas today to monitor progress of the implementation of the Project.

2. The meeting discussed among others, the concerns that were raised by a delegation of shop stewards and staff representatives on the implementation of the Employee Share Ownership Scheme at Lesotho Flour Mill. The Scheme will enable the employees of Lesotho Flour Mills to have a 10 percent stake in the company

3. The meeting was also informed about the ongoing progress in Lesotho Electricity Corporation (LEC) by the Interim Management Task Force that included over 4, 600 new electricity connections that have been achieved by the contractors to date. The arrears collected by LEC to date amounted to over M34 million.

4. The meeting learned that the 49 percent shareholding of Lesotho National Insurance Group (LNIG) that was formerly owned by St. Paul Insurance (USA) and African Life Insurance (South Africa) is available for purchase by interested investors. A group of Basotho investors residing in South Africa had earlier expressed interest to purchase the LNIG shares but have so far not shown any concrete offer.

5. Discussions also focused on the establishment of a Venture Capital Fund with an initial amount of M26 million, which will be set up for the purpose of providing loans to Basotho entrepreneurs to enable them to strengthen medium sized businesses that provide employment. The Venture Capital Fund will start operating as soon as Cabinet approval is granted.



KOPANO EA KOMITI E ELETSANG EA LEFAPHA LA PHETISETSO EA LIKHOEBO TSA ‘MUSO SECHABENG

1. Komiti ea Boeletsi ea Lefapha la Phetisetso ea Likhoebo tsa ‘Muso Sechabeng (Private Sector Advisory Committee), e thehiloeng tlasa Molao oa Phetisetso ea Likhoebo tsa ‘Muso Sechabeng, e bile le kopano ea bohlokoa e neng e tšoaretsoe Hoteleng ea Maseu Sun Cabanas ka Laboraro la kajeno.

2. Kopanong ena, ho tŝohluoe litlhahiso tse tekiloeng ke moifo oa baemeli oa basebetsi ba Khamphani ea Leloala le Leholo la Lesotho (Lesotho Flour Mills) mabapi le tsamaiso ea Morero oa Karolelo ea Liabo tsa Khamphani ho Basebetsi (Employee Share Ownership Scheme), o tla kengoa tšebetsong ke Khamphani haufinyane.

3. Kopano e ile ea tlaleheloa ka ntšetso-pele ea phepelo ea motlakase ka Koporasi ea Motlakase ea Lesotho (LEC). Phepelo ea motlakase ho tloha ha Komiti ea Nakoana ea Botsamaisi ba LEC (IMTF) e nka marapo ho fihlela hajoale, ke likhokelo tse kaholimo ho Likete tse ‘Ne le Makholo a Tšeletseng (4,600 connections). Pokello ea chelete ho fihlela hajoale e neng e kolotoa ke basebelisi ba motlakase ke limilione tse mashome a mararo a metso e mene (M34 million)

4. Litlaleho tse ling li bontša hore liabo tse 49 lekholong (49%) tsa Khamphani ea Tšireletso ea Thepa ea Lesotho National Insurance Group (LNIG) lia rekisoa. Liabo tsena, li ne li kopanetsoe ke khamphani tsa St. Paul Insurance (Amerika) le African Life Insurance (Afrika Boroa). Basotho ba ikopantseng ba lulang Afrika Boroa ba ile ba bontša thahasello ea ho li reka leha ba so behe letho tafoleng.

5. Ho feta moo, Komiti e ile ea tšohla Letlole la Venture Capital Fund le tla thehoa haufinyane ke ‘Muso oa Lesotho tsamaisong ea Banka e Kholo ea Lesotho. Letlole le se le abetsoe limilione tse mashome a mabeli a metso e tšeletseng a Maloti (M26 million). Letlole le reretsoe ho khahlanyetsa Basotho ka ho matlafatsa likhoebo tse boholong bo mahareng tse fanang ka mesebetsi.