business

Jan. 5, 2022

NEO SENOKO

2 min read

Lehlomela Mohapi appointed CBL Acting Governor

Lehlomela Mohapi appointed CBL Acting Governor

CBL Governor, Dr Retšelisitsoe Matlanyane

Story highlights

  • Matlanyane steps down after 9 years at the helm of the institution
  • Term of office of CBL’s two Deputy Governors also ends

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LEHLOMELA Mohapi has been appointed as the Acting Governor of the Central Bank of Lesotho (CBL), following the end of term of office of the Governor, Dr Retšelisitsoe Matlanyane.

Dr Matlanyane’s term of office ended on December 31.

Prior to his new appointment, Mr Mohapi had been holding the position of the Director Research at the same institution.  

Positions of the First Deputy Governor and Second Deputy Governor remain vacant.

The CBL announced on Tuesday that Dr Matlanyane and her two right hand men would make way for new players to take charge.

“Members of the public are kindly advised that the term of office of the Governor of the Central Bank of Lesotho, Dr Retšelisitsoe Matlanyane, and that of the First Deputy Governor, Dr Masilo Makhetha and the Second Deputy Governor, Ms ’Mathabo Makenete, ended on 31st December 2021.

“Following the end of term of office of the Governor and the two Deputy Governors, the Government of Lesotho has appointed Mr Lehlomela Mohapi as the Acting Governor,” the CBL said in a statement on Tuesday.

 In December last year, the Government released two vacancies of Governor and the Deputy Governor of the Central Bank, thus in accordance with section 9 (1) of the Central Bank of Lesotho Act of 2000.

According to the Act, the Governor shall be appointed by the King on the advice of the Prime Minister, and may be eligible for re-appointment.

Among other things, the Governor is the Chief Executive Officer (CEO) as well as the Chairman of the Board of Directors and the Monetary Policy Committee of the bank.  

Dr Matlanyane was appointed as the Governor of the CBL in 2012 by His Majesty King Letsie III, on the advice of the then Prime Minister Pakalitha Mosisili.

Prior to her promotion, Matlanyane was the First Deputy Governor, although she had been Acting Governor since March 2011, taking over from the late Dr Moeketsi Senaoana, who succumbed to cancer in 2011.

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Dr Senaoana had been the Governor since 2007.

During her term in office, Dr Matlanyane achieved remarkable milestones which among others saw RNB Properties becoming the first local company to list its ordinary shares on the Maseru Securities Market (MSM), five years after it was launched.

The listing of the company’s ordinary shares on the main platform of MSM means all issued shares of the same class can now start trading on MSM, offering the existing investors an opportunity to sell their acquisition and the potential ones an opportunity to buy shares on the regular market where the company valuation and the price of its shares will be driven by market fundamentals.

 

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