business

Aug. 15, 2021

STAFF REPORTER

2 min read

LNDC strives to save textile jobs

LNDC strives to save textile jobs

LNDC CEO, Adv Molise Ramaili

Metro Radio Podcast

Catch our weekly audio broadcast every Friday only on Metro Radio Podcast News.

listen now

THE Lesotho National Development Corporation (LNDC) is concerned about the downscaling of operations by key players in the textile and apparel manufacturing industry which has resulted in considerable job losses.

This after about 2 500 factory workers lost their jobs due to poor international markets.
In a press statement, the LNDC says the textile and apparel manufacturing industry remains Lesotho’s largest formal private sector employer hence, the corporation has engaged the companies that have downsized their operations through sizable layoffs.

The companies the LNDC says have cited disruptions in the supply chain due to the COVID-19 pandemic as the main driver behind the cutting down of jobs.

In a bid to curb the disruptions, the corporation initiated engagements with key stakeholders to jointly address issues that negatively impact the investment climate and has also resuscitated the Inter-Ministerial Task Team (IMTT), which is a high-level problem-solving forum led by the Minister of Trade and Industry to address investors’ grievances.
The LNDC explains that the purpose of this involvement is to facilitate collaboration with key stakeholders to improve the investment environment to restore investor confidence.
The corporation has therefore assured the workers and the public that it is exploring all avenues to preserve and create new jobs for those who have been retrenched, through operationalising expansion projects in its pipeline.

The corporation further notes that saving existing jobs is as equally important, if not more important to LNDC than creating new ones, particularly under these strained economic conditions.

It says the involvement of Foreign Direct Investment (FDI) in Lesotho has made a significant contribution to job creation in the country.

Enjoy our daily newsletter from today

Access exclusive newsletters, along with previews of new media releases.

But looking after the welfare of existing investors to ensure that they thrive and create additional jobs for Basotho as reflected in the corporations mandate remains a key priority for LNDC.

The LNDC is the main parastatal of the Government of Lesotho charged with the implementation of the country’s industrial development policies.

The role of the corporation is to promote Lesotho as an attractive investment location for both foreign and indigenous investors.

LNDC is wholly owned by the Government of Lesotho and falls under the Ministry of Trade and Industry, Cooperatives and Marketing which is responsible for providing overall policy direction on industrialisation. LeNA

Share the story

METRO WEATHER FORECAST