By Seleoe Nonyane
Standard Lesotho Bank (SBL) chief executive Anton Nicolaisen says he believes that the construction industry will be the cornerstone of the country’s economy within the next seven years.
Addressing a two-day conference on infrastructure and construction organised by the bank on Wednesday, Nicolaisen said the sector had great potential to help develop Lesotho if given the necessary support.
The meeting was aimed at giving industry players a platform to seek ways of making the industry the centre of Lesotho’s development for the benefit of all Basotho.
“The main thing that inspired us to organise this event is the possibilities that we see ahead for the growth of the construction industry and all those associated with it,” Nicolaisen said.
He added that said the bank’s intention was to become a major player by providing financial solutions to the infrastructure and construction industry.
“We strongly believe that this will give us the license to operate and become a real partner for growth for Basotho.”
The Lekhotla was attended by stakeholders including engineers, consultants, contractors, experts, and other financial institutions.
The event sought to lay a foundation for sustainable growth within the banking industry, thus enabling economic growth for Lesotho.
It also gave participants an opportunity to share ideas on how to boost the country’s infrastructure and construction sector.
SBL head global markets corporate and investment banking, Matšela Matšela, said the conference provided a platform for the bank to engage stakeholders in the infrastructure and development space.
He noted that SBL appreciated its crucial role of providing finance to help grow the sector through innovative cutting-edge solutions.
“Growth can be attained through finding new ways of doing business and our bank is well-placed to do so,” Matšela said.
The Lesotho Highlands Development Authority (LHDA), Mpho Brown, thanked SBL for organising the event, saying it was an eye-opener.
Brown said the Authority played a major role in the growth of the country through the Lesotho Highlands Water Project (LHWP) and it was important that it engages with financial institutions and other key players.
“The discussions were eye-opening for us as we award large contractors on construction, engineering and infrastructure development.
“We’ve gained knowledge on how to strengthen our tendering processes and improve our business dealings,” he said.
The conference also afforded participants an opportunity to discuss possible areas of collaboration.
Phase II of the Lesotho Highlands Water Project, with the construction of Polihali Dam, provides many business opportunities that Basotho can benefit from.
