Africa-Press – Lesotho. To reaffirm their dedication to strengthening institutional cooperation and enhancing regulatory oversight, Revenue Services Lesotho (RSL) has officially signed the Multi-Institutional Cooperation Agreement, forming the Lesotho Regulators’ Forum.
The forum consists of 10 institutions: RSL and nine key bodies in Lesotho – the Central Bank of Lesotho (CBL), Directorate on Corruption and Economic Offences (DCEO), Financial Intelligence Unit (FIU), Land Administration Authority (LAA), Lesotho Communications Authority (LCA), Lesotho Electricity and Water Authority (LEWA), Lesotho Mounted Police Service (LMPS), Lesotho National Development Corporation (The Corporation), and the Ministry of Trade, Industry and Business Development (MTIBD).
The signing event, led by the RSL, marks a major milestone in the country’s efforts to build a secure, compliant, and enabling environment for inclusive economic and social development.
Speaking at the official signing ceremony, RSL Commissioner General and Co-Chair of the forum, Mathabo Mokoko, emphasised that the agreement represents not only a formal collaboration but also a shift in regulatory thinking.
“This agreement reflects a recognition that we are stronger when we stand together,” she noted. “It is not just about compliance; it is about building trust with the public and the private sector, creating an environment where businesses can thrive and the rule of law is upheld.”
“This agreement is a testament to the commitment of all regulators present today,” said Mokoko. “Our goal is clear, to create an ecosystem where cooperation leads to better enforcement, reduced risks, and a more secure economic environment.”
Mokoko highlighted that the objectives of the agreement include:
Enhancing regulatory efficiency and coherence: By working together, the participating institutions aim to align their mandates and avoid duplication of efforts.
Sharing critical information: Open and timely exchange of intelligence and insights will help mitigate emerging risks and close regulatory gaps.
Conducting joint investigations and training: Through collaborative enforcement and joint capacity-building initiatives, regulators will strengthen their ability to detect and respond to violations.
Harmonising enforcement approaches: The forum aims to develop consistent regulatory standards across sectors, ensuring that entities operating in Lesotho are subject to clear and coordinated oversight.
LCA CEO Nizam Golam, in his remarks, said the forum will work very hard as those leading the program to ensure its success.
“The forum will have positive outcomes, it will see to it that when one reaches a certain institute they are not asked the same information they were asked at another institute since it will already be in their systems,” said Golam.
The Lesotho Regulators’ Forum is expected to meet regularly to assess progress, share data, and align strategies. Its formation comes at a critical time, as global and regional financial systems become more integrated, and local regulators are under pressure to modernise their frameworks.
One of the key themes at the event was the importance of adaptability and cooperation when facing new threats.
Motlotlo Matela from LAA said one major challenge they face is documentation of leases, noting that many Basotho’s leases are incorrect, which is why they joined the forum.
“Some of them are forged, I believe that working together with all institutions will put an end to that,” said Matela.
In an interview with Informative Newspaper, members of the public also shared their views on the forum’s formation.
“I think this is a good idea,” said Thato Mofolo, a small business owner in Maseru. “Sometimes it is confusing when different institutions give you different information. If they work together, maybe it will be easier for us to do business without unnecessary delays.”
“What matters most is how serious they are about working together,” said Palesa Lebitsa. “If they share information and stop corruption, it could really help the country move forward.”
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