PROFILE Lesotho National
PROFILE Lesotho National Development Corporation Profiling the endowments of Lesotho in the Free State neighbourhood. To fulfil its mandate, LNDC offers four core services: investment and trade promotion, investment and trade facilitation, aftercare and development financing services. These core services are offered to foreign and indigenous investors primarily through serviced industrial and commercial sites and buildings. In addition to serviced sites, LNDC offers an array of financing solutions. Ha Belo Industrial Estate Construction Site. Lesotho National Development Corporation (LNDC) is a corporate body mandated by the Government of Lesotho to “initiate, promote and facilitate the development of manufacturing and processing industries, mining and commerce in a manner calculated to raise the level of income and employment in Lesotho”. LNDC also promotes Lesotho as an attractive investment location for both foreign and indigenous investors. The Government of Lesotho is the sole shareholder in the Corporation and the Ministry of Trade and Industry is responsible for providing overall policy direction on investment and industrialisation. The Corporation is charged with the implementation of the country’s industrial development policies and investment strategy. The vision of the Corporation is to be “A catalyst for a diversified, globally competitive economy, underpinned by manufacturing and high-tech agroprocessing industries”. Its mission states that “Our aim is to deliver excellent and speedy services to our clientele as we partner to achieve inclusive and sustainable economic growth”. Organisational structure In terms of its establishment Act, the strategic leadership of the Lesotho National Development Corporation is vested in the 11-member Board of Directors appointed by the Minister of Trade and Industry. The Board provides direction and oversight over the affairs of the Corporation. The operations of LNDC are managed by the Chief Executive Officer, supported by the Executive Management Team. The CEO’s office comprises the Internal Audit and Risk Management Division, Corporate Governance Division and Public Relations Section. The Executive Management Team comprises four General Managers who head four strategic business units: • Development finance institution (semi-autonomous) • Property development and management (semi-autonomous) • Investment and trade promotion • Corporate services. Investment and Trade Promotion (ITP) Strategic Unit ITP is responsible for initiating, promoting and facilitating investments from foreign and indigenous investors, promoting and facilitating trade and FREE STATE BUSINESS 2022 24
PROFILE exports, facilitating implementation of new and expansion investments, securing international buyers, providing technical assistance to new and existing investors, business expansion and retention (aftercare services), policy advocacy and investment climate reforms and Lesotho nation branding and marketing. ITP is divided into six sub-functions: investment promotion, trade promotion, investment climate reforms, nation branding and marketing, and aftercare services. Investment and trade promotion relates primarily to promotional activities and campaigns aimed at either potential investors or generally promoting trade and development for Lesotho, generating leads, and developing prospects until they are ready for commitment and implementation. Aftercare services includes investment facilitation, business expansion and retention. These are meant to elevate and manage Lesotho’s reputation as a strategic investment and trading location and to continuously pursue improvements in efficiencies for service delivery to investors, hence positioning Lesotho as the best in Ease of Doing Business in the region. Development Finance (DF) Strategic Business Unit The LNDC Strategic Plan of 2018-23 instituted the creation of the Development Finance (DF) Strategic Business Unit with the mandate to “develop a portfolio of financing solutions to support private sector led industrial development and economic diversification”. The unit currently offers four financing instruments: • Partial credit guarantee (PCG) – fully operational • Equity finance • Quasi-equity finance • Project preparation facility. This unit manages LNDC’s equity portfolio of 10 companies. These companies operate in different sectors ranging from agriculture, construction, wholesale, retail and services. The role of DF is extracted from the LNDC Act No. 20 of 1967 to raise, lend or borrow money; make advances to any company, form or person; lend and advance money to companies, firms or persons owning or engaging in any business similar to or related to that of the Corporation; guarantee payment of cash or performance of contracts by any such company, firm or person on any terms as maybe agreed upon and to issue debentures, bills of exchange and other negotiable or transferrable instruments. It also can direct expenditure on or towards the implementation of the project or undertaking or any of the objectives of the project or undertaking; make loans or grants for the purposes of the project or undertaking; invest any moneys belonging to the Corporation in any project, undertaking or enterprise; provide technical, advisory or managerial assistance and services; provide plant or machinery for the purposes of any project, undertaking or enterprise. Property Development Management (PDM) Strategic Business Unit The PDM unit is one of the main cogs that drive the Corporation, as without property there is no established investment. Investment prospects look for globally competitive locations for investment. The PDM division is responsible for acquiring and developing LNDC properties in an effort to create work space for industrialists and other commercial entities. PDM is primarily responsible for the management of all LNDC property which include: • Acquiring and developing LNDC properties • Managing leases • Marketing commercial properties • Providing maintenance support to tenants. Corporate Services (CS) Strategic Business Unit LNDC’s Corporate Services division contains the shared support functions of the organisation. These services include Human Resources and Administration, Legal Services, IT, Planning and Research and Finance. The unit is the membrane that allows the Corporation’s operational processes to run as smoothly as possible. ■ CONTACT DETAILS Lesotho National Development Corporation Email: info@lndc.org.ls Email: moremoholo@lndc.org.ls Website: www.lndc.org.ls FREE STATE BUSINESS 2022
