The Minister of Finance Dr. Moeketsi Majoro has stressed the importance of the yet to be adopted Corporate Governance Code for Lesotho, saying it would be through such an instrument that State-Owned Enterprises (SOEs) and the private sector could toe the set corporate governance guidelines. Dr Majoro was speaking at a media briefing held in Maseru on Tuesday regarding the development of the anticipated Corporate Governance Code for Lesotho.

He stated that in the coalition government agreement, there is a clause which states that the government will review the principles and practices in State-Owned Enterprises (SOEs) and private sector to ensure transparency and accountability, arguing that this could be easily achieved through corporate governance code. Speaking at the same briefing, Institute of Directors (IOD) Lesotho Chief Executive Officer Lehlohonolo Chefa noted that in terms of business, Lesotho is lacking behind due to absence of the said code, explaining that counties such as Botswana, Malawi and Namibia are more advanced on this note as they have implemented the code.