By Neo Kolane
Investment promotion body, the Lesotho National Development Corporation (LNDC) has unveiled its 2023/24-2027/28 strategic plan seeking to make a positive and sustainable impact on Lesotho’s economy, community, and environment for creation of intergenerational value.
The official launch of the strategic plan will take place next week Tuesday.
During the unveiling on Monday this week, the chief executive officer of LNDC, Molise Ramaili, explained that the organisation recognises the importance of partnering with various stakeholders towards the achievement of its purpose.
He noted that the launch will happen in collaboration with key stakeholders such as the government, development partners, academia, the staff of LNDC, as well as regulators like Central Bank of Lesotho and Revenue Services of Lesotho.
Ramaili said the launch seeks to present the new strategic plan to LNDC’s key stakeholders, who also contributed immensely to its development through consultations, and to ensure that it is fully appreciated for its successful execution.
“The six goals that drive activities of this strategic plan are institutional legitimacy, sustainable development goal, information hub for large-scale industry and business intelligence, improved organisational and people delivery, sustainable infrastructure and technology and lastly financial strategy for organisational and industry sustainability,” he said.
To achieve its purpose, the corporation would focus on facilitating or investing in businesses and value chains that will create employment.
Ramaili noted that the investment approach would seek to boost domestic investment by facilitating access to finance, attracting required foreign direct investment and providing trade enhancing services for improved market penetration.
He also indicated that the LNDC would also focus on the growth of a selected number of high-value-adding industries based on the comparative advantage of the country. This includes incorporation of green programmes, opportunities for property development, and the promotion of sectors that support achievement of sustainable development goals.
Ramaili added that the collaboration with other agencies would be core to the development approach to leverage strengths and resources that partner agencies are also deploying towards Lesotho’s economic development.
“In particular, the corporation will build collaborative relations with leading investment promotion agencies and development finance institutions, investment climate stakeholders and academia for integrated planning in service delivery, innovation and knowledge creation and transfer,” he said.
Speaking at the same occasion, the general manager of investment and trade promotion unit, Puseletso Makhakhe, said her department is responsible for advocating for a conducive investment environment through advising the government on policies that need to be changed.
Makhakhe indicated that domestic investment was vital to stimulate foreign direct investment.
“We promote linkages between domestic and foreign direct investment to create better economic benefits for the country, in order to grow and diversify an economy for both direct and foreign direct investment.
“We need to build a strong domestic investment to be able to attract foreign investment,” she noted.
She also emphasised the need for collaboration with key stakeholders to build a strong industry, adding that LNDC cannot build the industry alone.
One of their challenges is that some ministries do not understand how LNDC’s mandates cuts across theirs.
Meanwhile, the general manager of the property development management, Furaha Rethabile Mdee, said the unit is tasked with the project management of large infrastructure facilities like ongoing projects of Belo in Butha Butha and Tikoe in Maseru which are nearing completion.
Mdee said these were part of the 2018-2023 strategic plan whereby LNDC engaged on infrastructure projects to support the National Strategic Development Plan II which is driven by the government.
“Those projects are funded by government but managed by LNDC,” he explained.
