By: Koena Mokobocho

The Institute of Directors is a co-operate governance advocacy institution based on the Mohlomi Cooperate Governance Code.

On April 25th 2024, the institution held a press conference, spearheaded by Chairman Selabalo Ntepe and Deputy Chairman Nkareng Letsie – to announce that on May 3rd 2024, they will be hosting an Inter-Generation Value Round-Table to discuss pressing issues of wealth generation in the country and how Lesotho can achieve a stable economy and improve its standard of living.

The Institute of Directors resumes operations after a break since 2004. Due to the lack of a localized code, Lesotho had adopted South Africa’s corporate governance principles, which, as Chairman Selabalo Ntepe points out, do not entirely correspond with the country’s cultural and economic landscape.

This insight highlights the need for a document that reflects Lesotho’s unique story and challenges.

Securing funds for the corporate governance rules is the next critical stage. Fortunately, the African Development Bank steps in to provide critical financial support for this project.

With the resources secured, a diverse group of experts representing many stakeholders in Lesotho’s governance ecosystem is formed.

This committee is inspired not only by current governance techniques, but also by the timeless philosophies of our revered forebears, Morena Mohlomi and Morena Moshoeshoe.

Their concepts of equality, accountability, and community stewardship serve as a solid foundation for developing a code that not only meets international requirements but also resonates strongly with Lesotho’s beliefs and goals.

This participatory approach guarantees that the emerging code reflects the Basotho people’s common wisdom and ambitions, setting a precedent for successful governance that can promote long-term growth and prosperity for future generations.

As the Institute of Directors prepares to host the Inter-Generation Value Round-Table on May 3rd, 2024, it marks a critical milestone in Lesotho’s efforts to create a stable economy and raise the standard of living for all of its residents.

It is an opportunity to use the power of collaboration and creativity to address major wealth-generation concerns, setting the groundwork for a better future for Lesotho and Basotho.