Moosa regains control of business foundation
MASERU — Osman Moosa, a businessman convicted of fraud charges, yesterday finally regained control of the troubled Private Sector Foundation of Lesotho (PSFL).
High Court judge Justice Semapo Peete, who had interdicted Moosa and his camp from acting on behalf of PSFL last year in a direct clash with his colleague Justice ’Maseforo Mahase who had put Moosa back to the PSFL chairmanship after a coup, confirmed his chairmanship.
His nemesis, Leonia Mosothoane, who has been chairperson since March 24 last year, is now an ordinary member of the PSFL.
Justice Peete advised Mosothoane and Moosa to make peace for the sake of economic development of Lesotho in harmony with “the noble and ambitious objectives” of the PSFL.
“I implore parties to take conciliatory steps,” Justice Peete said.
“The paramount interests of the foundation should not be sacrificed on the altar of ambition and self-interests,” he said.
He said if Moosa leaves the PSFL his replacement should be elected according to the proper channels.
Last night there was speculation that the Mosothoane camp would appeal against Justice Peete’s ruling.
Moosa was kicked out of the chairmanship at a March 24 extraordinary meeting he had not attended after a faction led by Mosothoane tried in vain to compel him to call the elective conference.
Justice Mahase ruled that the Mosothoane faction’s conference was unlawful.
She dismissed the Mosothoane faction’s application made in June last year for which an interim order was issued barring Moosa’s camp from entering the PSFL offices as well as passing all executive powers to Mosothoane’s committee.
The judge had on June 15 made an interim order calling Moosa, the PSFL CEO Thabo Qhesi and the foundation’s executive committee member Kutloano Sello to show cause why they could not give the Mosothoane faction access to the office and its documents.
The Moosa committee was removed because “it was inefficient.”
The Mosothoane faction had also resolved that after Moosa’s exit, Qhesi should be removed from office and be investigated for possible embezzlement of funds.
They had also resolved to change their signatures at the Standard Lesotho Bank.
After winning the battle, Moosa’s committee then said it would investigate abuse of funds against the Mosothoane faction.
“The legitimate PSFL board will now investigate the possible abuse of PSFL members’ subscriptions and property by these selfish individuals and shall take appropriate action against them and hold them personally accountable,” reads part of PSFL statement.
“The PSFL board officially cancels all meetings that were announced by these illegitimate group (sic) in the name of the Private Sector Foundation of Lesotho and in particular the so called AGM (31.8.2012) at Maseru Sun or anywhere else,” said Moosa in the statement.
The AGM Moosa referred to in the statement was held after Mosothoane’s camp obtained a High Court order against the objections of Moosa and company.
Mosothoane, armed with the court order, held the AGM where she was re-elected as the chairperson.
She had obtained an interim court order barring the Moosa camp from “conducting any transactions on the business banking account number 0140045894101 held by the applicant (PSFL) with Standard Lesotho Bank.”
The Moosa camp had also been interdicted from entering into any agreement on behalf of the PSFL.
Comment by Nkole on 14 February 2013:
I really thank Judge Peete for finalising this matter. Frankly speaking, Maposholi Mosothoane and her camp were really pain in our neck as members of Private Sector Foundation of Lesotho. This faction has wasted a lot of time for the business community of Lesotho. Imagine Maposholi Mosothoane leading the private sector of Lesotho whereas she cannot even express herself in English or make mature analysis of issues. She is notorious in making unnecessary arguments.One can cite one example of LDF tender of uniform. She used to win a tender of supplying army uniform some years back, but lost in 2012. After losing the tender, she demanded that South African Bureau of Standards (SABS) to be engaged for verifying the quality of sample submitted by the winner and she would be ready to pay all costs of SABS. This was really funny because nobody had ever complained when she won the tender of supplying army uniform all these years. When Procurement Unit of Ministry of Defence and National Security Services refused to do as she wishes, she had made some threats of talking them to Court. It looks like it is her hobby to make unnecessary disputes in Court of Law.
Comment by Bobete on 14 February 2013:
He batho ba sa a ratile maemo le ha ba sena makhabane a ho tsamaisa. Both are liabilities to PSFL, one frauster, one an ambitious brainless woman.
Comment by Oa Likoetseng on 14 February 2013:
Masolomane ano bo Moosa le bo Ashraf makhotleng mono o keke oa o besa oa tuka. Maposholi o tiise Sesali mohlomong re tla bona mohlolo ka oena.
Basotho ba ikeme ka Machaena..Machaena, hee Masolomane a bolisitse naha ea Lesotho.
Comment by Bofuma-tsoene on 14 February 2013:
It is common cause that wherever Thabo Qhesi is holding a managerial position there are allegations of misappropriation of funds on his part leading to closure of businesses.Qhesi you are being repremanded for squandering public funds.stop it. Phoo
Comment by Motsu on 14 February 2013:
Feela hona le eng moo Private Sector Foundation e tsekoang ha kaale?
Comment by John on 14 February 2013:
@Bofuma-tsoene, you came with an interesting subject about Qhesi. Please give us more information about him to ascertain your assertions.
Comment by Letlotlo on 14 February 2013:
Motsu, o re na ho jeoa eng Private Sector Foundation, sheba hore na ke mang ea fumanang rentals tsa workshop ea WASA, sheba hore na ke mang ea fumanang rentals tsa Sanlam Centre ho rekisoang likoloi, sheba hore na ke bo mang ba fuoeng management contract oa ho tsamaisa litsi tsa bophelo Maseru. Ha u fumane hore na ke bo mang, sheba likamano le Private Sector Foundation hore ke li feng.
Comment by Motsu on 14 February 2013:
Tabeng ea Sanlam Centre ho ea tsebahala hore ke sebaka sa LNDC. E ne LNDC e batlile khampani e private o laola thepa ea mehaho ea eona.
Comment by Lebo on 14 February 2013:
When someone lost a case in Court of Law, she or he will talk lot of nonsense about Court of Law.
Comment by Back to School on 15 February 2013:
A month ago, I remember that Harvest FM through Moyeye had reported about Sanlam Centre and it was discovered that the site had not been controlled by Morai and Maseela Estate Agency, but one businesswoman (Mamakamane Makamane) for her self-interest. One can see the abuse of state resources for the benefit of the chosen few. It’s high that Mr J. Setipa (CEO of LNDC) should put a record straight about SANLAM CENTRE.
Comment by Peter on 15 February 2013:
There are lot of mistakes and lack of analysis in this article. For instance, that extra-ordinary was held in May 24, 2012 not March. This shows clearly that Caswel Tlali was merely writing for the sake of writing to meet the deadline. I would have thought that Caswel should have interviewed some of the persons mentioned for verification of facts, but there is nothing. Is this journalism? This is tantamount to character assassination and Caswel must be careful not put Lesotho Times unnecessary court litigations.
Comment by Peter on 15 February 2013:
Mr Editor, please check the following:
“…..Mosothoane, armed with the court order, held the AGM where she was re-elected as the chairperson….”
Caswel is really misinforming the readers. LESHANO LE SENANG LITSOAKO.Sisssss.. Phooooo!
Comment by Manthomeng on 15 February 2013:
Hee Mamosothoane ke problem bophelong, hee o rata matla joale o meharo, hape o maonatso a ho tso’ara lichelete tsa sechaba o ithoisa ka tsona. Eena ha e se eena ea eteletseng ntho pele ha e ea nepahala nako ena kaofela, ha tender esa fumanoa ke eena ha e ea tsamaea ka toka. Ha a ke a itlhahlobe o na le bothata motho ha a tlamehe ho tso’ana le eena tjena. Motho ke motho ka batho ba bang, ‘me’.
Comment by Puleng on 15 February 2013:
Beso, ke tsoa WASCO moo ke boneng hore Workshop ea WASCO e sebelisoa ke CAT, feela likoloi tsa WASCO li eme hare letsatsi hobane ho sena sebaka. Haele hona heeeeee ke tjela mahlong pusong e na ea LETSEMA. Cheeeeee
Comment by Checks on 15 February 2013:
Uena,Puleng le ba tsóanang le uena, le tla hobola khoeli ho fihlela 2017. Bashana ba basesanyane ba tla be ntse ba leqetsa bare leqe-leqe.
Comment by Lebo on 15 February 2013:
O reng Oa Likoetseng? O re Masolomane a etsang makhotleng? Hahahahaha. Hei!! Oa tla mpha tsoekere. Mohlomphehi, re lokela ho tlohella ho ithetsa hore makhotla a nka lehlakore hobane haeba o sa khotsofala ke kahlolo, o tla fetela lekhotleng le ka holimo. Motho enoa eo o reng a sebetse SESALI e hlile o mo tseba hantle?? Ntlha ea pele motho enoa ke le DROP OUT la NTTC, ho bolelang hore ke FORM 5 either 3rd Class or GCE. Boemo bona ba thuto ke bona bo etsang hore a lule a khorohela ho ea makhotleng. Ntlha ea bobeli, o ile a kenya nyeoe hore lekhotla le mo tiise e le President ea PSFL, ea ba nyeoe eo e ea mohlola ka li 30/08/2012. Ha nyeoe e qeta ho mohlola o tsoela-pele ka seboka ka li 31/08/2012 nyeoe e se e mohlotsoe hore se mokhethe. E be li 01/09/2012 o kenya nyeoe e potlakileng ebile e le bosiu hore Lekhotla le Phahameng la Linyeoe hore le mo tiise e President ea PSFL. Joale nyeoe eo e mohlotsoe hape ka la 13/02/2013. Oa Likoetseng, o bolela hore Masolomane a reka Baahloli, feela le DROP OUT le la Mosali le ntse le khoroha. Ke lumela hore e kana eaba o e mong ea ntseng o fuoa mekoloto feela o sa lefe mane moo e leng POHO EA KHOTHU teng e le BOLIBA Cooperatives. Re bolelloa hore bakhotsi ba thena ba ikalima lichelete moo e bile ba sa lefe. Ke ka hona ho senang litlaleho tsa lichelete moo BOLIBA. Re bolelle hore na BOLIBA e qetetse ho tsóara Seboka Sa Selemo (AGM) neng?
Comment by Sebueng on 15 February 2013:
Hela Qhesi monna, le drop-out Leno le leqophe, bobolu ha le bo batle. Bolella bakhotsi bano ba hao ba masole hore ntho eo ba e entseng ea ho fana ka sample ea hae ho bakhotsi ba bona, hore ba arolelane tjotjo kaha a bolile masole ano litorong mono a na le likhoebo tsa bona, bo Makha le Bo Kaibe le Makhoabenyane le Ncheke ha ba ea le bona o tla ba emella kea motseba. Haholo hobane re ile ra hloleha ka 09, re ikesitse Uk, hee o itsetetse mosali eno mono. O kae mookameli oa sepolesa ntse ba tseka uniform? Masolomone aa ao u tsamaeang le ona le Rekisa li drugs sepetlele Hlotse, ke ona a etsang hore le senye khoebo ea Lesotho hore lona le atlehe? ‘na ke re a le khorohele mosali eno e le hore Basotho ba tle ba tsebe ho fumana molemo oa naha ea bona. Ha ba ea nka appeal re tle re emele eona ho bona hore na o fela a khorohile? Hantle barutehi bao ba kae? E leng hore o laola Bo Thotanyane, Bo Ntsepeng, le ‘Naki? E le hore o bohlale hee!
Hantle Moosa eo oa lesholu ena o balileng?Ke hobane re utloa kamehla le emeletse thuto ea Mamosothoane.Lebo le Nkole ke motho a le mong hantle le tsekisa mosali eo eng masholu a tsamaeang le lesholu le ipoletseng hore le molato ea tlatsitseng mapakistan hohle Basotho ba sitoa ho fumana mosebetsi.Phoooo.
Comment by lolo on 15 February 2013:
Che la e khorohela salam lene lele kae ho tloha 1998.? Esale e lula moo lesa etse letho ka eona?
Chao!
Comment by Lebo on 16 February 2013:
Sebueng e be bothata ba ho tlaleha litaba tse basebetsi ba nang le likhoebo moo ho lokelehang (Anti-Corruption (DCE0) and CID) ke bo feng?
Comment by Motoa on 16 February 2013:
When I first saw ‘Maposholi Mosothoane in the late 80′s, she was working in the Ministry of Works (Accounts Section – LCU) and she was fired in that section because she had disappeared with funds which were intended to pay the salaries and wages of staff working in the districts. Hence, she was able to set up Smally Car Wash. Therefore, she cannot claim others to be fraudsters.
Comment by Ken on 16 February 2013:
According to my understanding the psfl was initiated in order to give a chance to the bussiness sector(big and small). But unfortunetly some people dont portray it in that manner. but i am of the opinion that as BASOTHO we should go forward and stop criticising each other.we should rather look at the interest of the poor basotho who even when they cross to SOUTH AFRICA they have problems.that should be the priority.According to me anybody’s political affiliation has got nothing to do with anybody.we all have freedom of speech, expression etc
Comment by Tsebo on 16 February 2013:
Hee ‘Maphosholi Mosothoane a iketsa pilisi kahara naha ea Lesotho, ke lilemo tse kae ele chair ea Boliba bana besong ? O selemong sa bots’elela ‘me ha ho seo ba ka se etsang li member tse ling, ke maketse hore ebe le ka LDF ke eena feela ea supplayang uniform ‘me sales tsa Smally uo to now ke 9 Million hona mono moo ho seng motho ea tla supplaea ntle le eena, ha ho nts’oa tender 4 LDF hona joale, mosali eno hosane o laela basebeletsi ba Boliba ho patala supplier ea hae overseas ka transfer, nako eo tender e koalloang hae mona, thepa ea mosali eno ea ea kena Durban ‘me ha le hopola hore ho etsoa selection ke LDF Procurement naa ho fuoa mang ea winneng, company ea P & Peter Freight e ntse cleaca thepa eo ea Leonia ka bodareng, ha Leonia eena a ea LDF hore ba mo etsetse lengolo ho paka hore thepa eo ke ea sesole ‘me lengolo leo ke leo a tlo lefa P & Peter e ele qhoaelle li invoiceng tsa LRA ele hore a seka patala TAX kaha thepa ke ea LDF eleng ‘muso. Nka ngola ka tlatsa li page ha ke buoa ka Leonia, akere chee ona its’etlehile ka sefate se matla Haldi, ke ka hona a neng a patalla libese for ma DC ha ho tluoa libokeng, joale le tiea lere ‘Mamosothoane o lutse ka nepo setulong seo sa Private Sector ? Ke eo taba o shebile chelete ea Polihali ka mahlo a matala ha a panye kaha o nahana she knows ho feta basali le banna ba bang Lesotho mona, ha ke tsebe naa ha ale mobe hakaana a hlotsoe le ho hlatsoeha ke lichelete tsena tse ngata ngata tsena
Comment by Ncheke on 16 February 2013:
Hee ‘Maphosholi Mosothoane a iketsa pilisi kahara naha ea Lesotho, ke lilemo tse kae ele chair ea Boliba bana besong ? O selemong sa bots’elela ‘me ha ho seo ba ka se etsang li member tse ling, ke maketse hore ebe le ka LDF ke eena feela ea supplayang uniform ‘me sales tsa Smally uo to now ke 9 Million hona mono moo ho seng motho ea tla supplaea ntle le eena, ha ho nts’oa tender 4 LDF hona joale, mosali eno hosane o laela basebeletsi ba Boliba ho patala supplier ea hae overseas ka transfer, nako eo tender e koalloang hae mona, thepa ea mosali eno ea ea kena Durban ‘me ha le hopola hore ho etsoa selection ke LDF Procurement naa ho fuoa mang ea winneng, company ea P & Peter Freight e ntse cleaca thepa eo ea Leonia ka bodareng, ha Leonia eena a ea LDF hore ba mo etsetse lengolo ho paka hore thepa eo ke ea sesole ‘me lengolo leo ke leo a tlo lefa P & Peter e ele qhoaelle li invoiceng tsa LRA ele hore a seka patala TAX kaha thepa ke ea LDF eleng ‘muso. Nka ngola ka tlatsa li page ha ke buoa ka Leonia, akere chee ona its’etlehile ka sefate se matla Haldi, ke ka hona a neng a patalla libese for ma DC ha ho tluoa libokeng. Ausi o shebile chelete ea Polihali ka mahlo a matala ha a panye kaha o nahana she knows ho feta basali le banna ba bang Lesotho mona, ha ke tsebe naa ha ale mobe hakaana a hlotsoe le ho hlatsoeha ke lichelete tsena tse ngata tsena.
Comment by Mosotho on 16 February 2013:
Basotho, hoja la tlohella ho seollana le buana hampe. Sera se seholo ke tlala. Hoja ra tjoaranang ka matsoho molemong oa Lesotho. Marumo faatsé sa Moshoeshoe. Ha ke setho mokhatlong ona, feela ke bona e ka ha ho ka tsoara matsoho, Lesotho le ka ntlafala. Empe e be ka molaetsa ona ke kokotile lipelong tsa lona ho bohle ba amehang litabeng tsena.
Comment by More on 16 February 2013:
Le ‘na ke tlatselletsa Mosotho hore e na ea ho seollana e ke kebe ea isa chaba sena sa thesele pele ka tsela efe kapa efe.
Comment by Jooste on 16 February 2013:
@Mosotho, your appeal is highly appreciated to all parties involved in this matter. A person whom I think that he can be instrumental is Caswel Tlali. Mr Tlali must revise his approach in writing the affairs of PSFL. It is because you will never ever see in his article where he has attempted to the views of various stakeholders in terms of finding the solution to the existing problems, only reporting!
Comment by Mosotho on 16 February 2013:
Ke ea itebohela ha e le mona ho bonahala hore ha ke mong ea lakatsang hore khotso e ke e rene kahara mokhatlo ona o moholo. Lintoa li ke ke tsa re isa kae kapa kae; haeso lillo le litsikitlana tsa meno feela.
Comment by Thabo on 16 February 2013:
Kabelo Monaphathi ,MatebohoMoeletsi ,Matsobane Putsoa ,Teboho Sopeng ke lona Bo Motoa, Tsebo le Ncheke na lea hoopla hore le ile la ngola tje ka Mamosothoane ha letona Tsolo a ne a buile ka Boliba le ile la seolla mosali enoa ho fihlela ba le bitsa ka mabi tso re le tseba .
Hantle ha le motl ose keng? Na ke ‘nete hore le lekile ho etsa petition la hloleha Moliko a ba a shoa ke pelo ha Sopeng atla sebetsa garageng ea Moliko.ba re le hlotsoe ke lifoutu Litho li re a fumane chelete eo le e utsoitseng le Bo ps Khethisa Kabelo a ba
a re o thotse lotto ha a ilo e jella Cape Town?
‘Na Che ha ho buoa ka uniform kea mo utloela hobane masole a boho long lea sebetsang setorong a ile a nkopa hore re molihe kaha ke ena le chelete kaha o Hana ho ba fa tjotjo ke Hanne mohlomong Seitlheko ena o lumetse kaha ke ne ke utloe ba re ba tla leka ena hoja ha nthoesele tjena ke ne ke tla mojoetsa hobane bobolu ha Bo batle o loanela Basotho sefapano ha ea sebetsoa Hantle ho hang moo teng kea motsehetsa .
Case no ea hae ke mang ? Re tle re tsebe ho motsoara ka eona a re tlohelle.
Empa hee ho bona masholu Ana a nahanang hore a betere a ipatile ka mora litae.
Comment by Sebueng on 16 February 2013:
Qhesi ha kere u ea tseba le uena esale u utsoa chelete ea basali ba Mabote Women Empowerment le Matjaka Molefi le ilo reka litulo ho Ntate lona Moosas ha u es tsoaroe ha kere le ha hau u fihla Bosiu u baleha more na le maqosa a se ke a u tsoara . Le bona masole a bohlale a file mosali oa ofisiri e ‘ ngoe ea Millitary Intelligence hore a ba fe Nama ea nku ele tjotjo kaha ofisiri e tloelane le ofisiri tsa Dceo ua bona ke bothata.
Hantle uena Qhesi u feletse kae ka chelete e la eo u qaqhileng ofisi ea PSFL hee le uena u ka nka linotlolo ho basebetsi eaba chelete ea nyamela le ena le Sentle ua re ha u na tse Jo a e bee u qetela ka ho tebela Mpho u pata bopaki .re sa utloile u romele batho ba ilo otla ngoanana Tsoakae u batla laptop ea hae le pata bosholu ba lona le Sentle .
U ntse u sokolisa maponesa ha u so ee ka moo esale u baleha.
Ha kere Qhesi li C E o tse utsoang Mamosothoane o ea litebela Sheba Boliba mane o tebetse Makara , Sopenng le uena u utsoitse 2500.00 ea PSFL ha kere? Kapa u se u ena le bashanyana ba hau le moo joalo kaha le bua joalo hore hohle moo le tla hlola kaha lea patala uena ,Moosa, Sentle le senya Lesotho Hantle le cha le tsolang moo le se na likhoebo hee PSFL le eona ea e Baka taba kaha le rata Maemo sis phoa !
Comment by Motoa on 16 February 2013:
When I first saw ‘Maposholi Mosothoane in the late 80′s, she had been working in the Ministry of Works (Accounts Section – LCU) and she was fired in that section because she had disappeared with funds which were intended to pay the salaries and wages of staff working in the districts. Hence, she was able to set up Smally Car Wash. Therefore, she cannot claim others to be fraudsters. She is now hiding behind Fill THE GAP for money laundering.
Comment by Boima on 16 February 2013:
Under the leadership of Maposholi Mosothoane, there shall never be transparency within Boliba simply because Commissioner of Cooperative, Mrs Lekoetje has been protecting the current Board of Boliba. Reliable sources disclosed that Mrs. Lekoetje had been given a loan to build a house and she had not been serving her loan for a long time. Clearly, she is getting something from the current Board and she is bound to protect that corrupt Board.
Comment by Maposholi on 16 February 2013:
The moment one claims to be a cooperative society then they must periodically go for AGMs where election of Executive committe takes place. Every member of that society(poor or rich, old or young, urban or rural) has a say in the election of that committe as well as how the socety should be run and corrective measures if compliance is not observed.
Boliba just takes public deposits as if its a bank with clients but refuses CBL pledge of M10,000,000.00 for compliance with Financial Institutions Act for banks. This because they do not want CBL to have insight into their operations because they know very well what irregularities and illegal acts they are perpetuating. Simply because they claim to be a cooperative society but they never go for the abovementioned AGM and they do ot comply with many other requirements of the cooperative Societies Act as required and mentioned by their very memebers.
Is Boliba ever audited by external, independent, reputable auditors?
Or is it that old story of being audited by an internal auditor who just cuts and pastes past periods reports simply because he can be fired if he reveals the truth about Boliba.
Hon. Minister please be very careful and sensitive when addressing this issue because its bigger than you may think.Most importantly because of public deposists(MKM deja vu). Batho baano ntate ba ikalima lichete ebe ha ba li patale ho latela litumellano ntlheng ea nako le tsoala le bongata ba chelete. Ba entse li business tsa bo li car wash.
Maoba mona ba sa tsoa rekela li taxi man li quantum. well and good but talk to any taxi man about the taxi business of late and youll be surprised that quantum ea mefeteng e ka qeta beeke platformond e sa laeshe feela boliba eona e batla installment ha khoeli e fela. WAS THE QUANTUM DECISON EVER A GOOD ONE?Well re tla utloa. Hopola li rekiloe kamora lerata la hore boliba e etsoe company. Ene ele masene a hore feela eke ha ho litaba moono le ho hapa tsepo ea li-client tsa bona. Bua Maposholi heee!
Comment by Chicken on 16 February 2013:
Ke hopola hore nakong eo Tonakholo ea mehleng a neng a potoloha le litereke naha ea Lesotho a bua le bahoebi, ke mohlang ke tla tseba Mamosothoane phuthehong e neng e ts’oaretsoe Maseru Cabanas.
Maposholi o ne a buella bahoebi ba Ma-China mohlang oo. A le bohla feela ka hanong ka mona. Ke hopola a re: “Ntate o mabitleng koana Bela-Bela, Mosisili hase Ntate ho ‘Na mona…”
Comment by Maposholi on 16 February 2013:
Is Boliba ever audited by external, independent, reputable auditors?
Or is it that old story of being audited by an internal auditor who just cuts and pastes past periods reports simply because he can be fired if he reveals the truth about Boliba.
Comment by Customer on 17 February 2013:
Na lichelete tsa batho li sireletsehile ha li le Boliba?
Comment by Pele on 17 February 2013:
I can smell a rat about Boliba. Recently, clients are hardly getting loans as they used to. Looking at some of the comments shown below:
“………Boliba just takes public deposits as if its a bank with clients but refuses CBL pledge of M10,000,000.00 for compliance with Financial Institutions Act for banks. This because they do not want CBL to have insight into their operations because they know very well what irregularities and illegal acts they are perpetuating………”
Comment by Tllhase on 18 February 2013:
Since the debate has now turned to Boliba. Here’s my two cents worth, Boliba is operating legally as far as the Cooperatives Act is concerned since it is a cooperative not a Bank. The fight amongst members is some members (Putsoa et al) want it to become a Bank regulated under the Financial Institutions Act (FIA) 2012 while others (Mosothoane et al) and Minister of Trade – Ts’olo want it to remain a Cooperative under the Ministry. The FIA is strict in terms of protecting customer depoasits hence requirements such as pledging a minimal of 10 million as what is called Capital Reserve in case the company folds over and is not able to return depositor’s money (e.g. MKM). Word doing the rounds is that Bo-Putsoa have chowed money when they were influential in the Board by lending themselves a lot of money they are not repaying and now they want to stop Bo-Mosothoane from chowing! Note that the FIA has strict clauses that the directors cannot lend themselves above 12% in value of the total loans a bank/financial institution has given out. It’s the same problems with the PSFL – people are looking after self-interest at the expense of the country. How sad! Like the ANC of today, theay are saying, It’s our turn to eat, you have had yours! Leqe, leqe, leqe mehlaena kaofela Ntate Mzimkhulu.
Comment by Tllhase on 18 February 2013:
They would rather destroy the Cooperative than not be able to control it. Mind you, Boliba is not their personal property! When will selfishness cease in this country. When will people start doing things for “God and Country” as the Americans say instead of for “Me and my Family”. Let’s do things for Basotho!!! The problems bedeviling PSFL are no different from those bedeviling Boliba. People are looking for potential sub-contracts and tenders coming through as they partner with International companies as they want to make Millions and if possible Billions.
Comment by Maposholi on 18 February 2013:
Great, Mrs or Mr Tllase, just answer the following:
Is Boliba ever audited by external, independent, reputable auditors?
Or is it that old story of being audited by an internal auditor who just cuts and pastes past periods reports simply because he can be fired if he reveals the truth about Boliba.
Comment by Pule on 18 February 2013:
Taba tsa Lesotho e kare ke lilotho! Minister Tsolo is now having a stance on the issue of Boliba. I have thought that Boliba is belonging to its members under Cooperative Act. Where does Minister Tsolo feature in the whole set up in determining the affairs of Boliba? One may recall an incident whereby Minister Tsolo appeared on TV attending a church service at MATHEBE together with Maposholi and Mamabusa. One can assume that these two Queens of Boliba went there to lobby the Minister Tsolo about the stance shown by Mrs or Mr Tllase.
Comment by Maposholi on 18 February 2013:
Letona Tsolo Temeki, you must be careful about issues of Boliba and your remarks or comments both formally and informally. Some elements will drag your name into dirty tricks.
Comment by Tllhase on 19 February 2013:
You see, Boliba has been the subject of internal Government wrangling for a long time. The problem is that it is governed and regulated under the Cooperatives Act as a cooperative. This means that in terms of its regulatory framework, its Commissioner-general who grants it a license to operate and ensures it follows proper guidelines and protects interests and deposits of Basotho is not the Central Bank of Lesotho Governor but the Commissioner of Cooperatives (Lekoetje) who reports to Minister of Trade. It is a fact the Cooperatives Act is not stringent as the Financial Institutions Act (FIA) in terms of protecting capital and customer deposits. Hence why Boliba has not had audited accounts. Under FIA, a Bank cannot get away with this as they are required in Law to publish their audited accounts and to submit monthly reports to the CBL on a monthly basis. Boliba has not produced audited accounts? What are they hiding? What story will the accounts and audits reveal that we must not know? Who are benefiting from this laxity? Why is one faction on its board, saying they want it under the CBL and not a Government department? Is it because there are some on its board who are benefiting illegally? What are the motives of those saying it should be under the CBL? Is it because the tap has closed and now they are no longer benefiting as they used to? These are all questions Boliba has to answer.
Comment by Tllhase on 19 February 2013:
To respond to your question, Maposholi, Boliba is not audited and I think this is where the Commissioner of Cooperatives should crack the whip if she was doing her job and earning her salary. She should demand audited financials to protect the interests of Basotho. Basotho cannot survive another MKM. I do not think it’s right that the Minister should be seen to be hobnobbing (especially given the ongoing factional fighting) with the some of the directors of this company as it could be perceived as them soliciting favours and protection so that they forgo their legal obligations to publish audited financials and hide corruption. I wonder what the taxman (LRA) has to say about this situation. This should be something they pursue instead of chasing people with SA registered cars.
Comment by Silky on 19 February 2013:
Congratulations to Mr Moosa.It was shocking to learn that some individuals want to desstroy the good intentions of the Pvt Sec Foundation by bringing irrelevant issues on the table. I salute you Mr Qhesi! If theres one thing we dont have as Basotho is to be able to stand up to what we believe is correct; only a few tough guys like Qhesi, ex LEC Board of Directors, Moosa and a few others are able to resist negative energy!Trust me, we’re moving in the right direction as a nation!
Comment by Maposholi on 19 February 2013:
Boliba! Boliba!! Bolibaaaaa!!!
A TIME BOMB FOR BASOTHO
Comment by Sello on 19 February 2013:
Those who are accessible to the Minister of Trade, please try to caution him that Maposholi had been claiming his support to the whole saga of Boliba. This is really disturbing taking into account that public funds are likely to be misused at Boliba, especially when there is not extenal audit to date. People expect the Minister to be neutral and they have been expecting his word after the publication of Boliba sage last year.
Comment by thabo on 21 February 2013:
Hela ho Qhesi o utsoitse chelete e kae Mabote women? Hona Qhesi ke mosali oa mang? sis mane
Comment by seema on 21 February 2013:
Moosa ke lesholu le certified by the courts of law