{"id":5676,"date":"2021-11-10T11:51:16","date_gmt":"2021-11-10T11:51:16","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/government-stops-frazer-from-attaching-lesothos-assets"},"modified":"2021-11-10T12:37:00","modified_gmt":"2021-11-10T12:37:00","slug":"government-stops-frazer-from-attaching-lesothos-assets","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/government-stops-frazer-from-attaching-lesothos-assets","title":{"rendered":"Government stops Frazer from attaching Lesotho\u2019s assets"},"content":{"rendered":"

Africa-Press – Lesotho. <\/strong><\/span>The Minister of Finance Hon. Thabo Sophonea has said that the government has succeeded in stopping Frazer Solar GMBH Company \u2013 a German company from attaching its assets in an ongoing lawsuit where the former had attached the<\/p>\n

government\u2019s assets to recover their money. Member of Parliament (MP) Hon. \u2018Matlhohonolofatso T\u0161epang T\u0161ita-Mosena had on Thursday asked the Minister of Finance to apprise to the Honourable House of the Government stance and<\/p>\n

initiative on the protection of Lesotho\u2019s assets regarding a case in which the Frazer Solar GMBH has been awarded an order to seize Lesotho\u2019s major foreign<\/p>\n

investment pillars such as water royalties, electricity revenues under Eskom and the country\u2019s shareholding in the West India Cable Company. She further inquired of<\/p>\n

the measures that the country has employed to address the root of this issue which has forced the country to be embroiled in this protracted legal battle.<\/p>\n

Reacting to this question, Sophonea said that the Attorney General and the lawyers are seized with this matter. He mentioned that the government\u2019s efforts<\/p>\n

were directed at freezing the garnishment of the country\u2019s assets. A Frazer Solar GMBH vs Kingdom of Lesotho (CIV 2020\/33700) case is being heard at the Gauteng Division<\/p>\n

of the High Court in Gauteng, South Africa (SA) where the former is the applicant and the latter is the respondent. In 2018, the government allegedly entered into an energy equipment supply deal running to the north of<\/p>\n

M2 billion with the Frazer Solar GMBH. Solar Frazer has subsequently sued the government for alleged breach of contract and it is seeking damages running to<\/p>\n

the tune of M850 million. The government\u2019s assets attached to this lawsuit are: revenue from the Trans-Caledon Tunnel Authority (TCTA), an entity authorised by SA to pay Lesotho\u2019s royalties from the water<\/p>\n

supplied to that country, the Lesotho Electricity Company (LEC) accounts with Eskom, Lesotho\u2019s shares held in West Indian Ocean Undersea Cable Company which<\/p>\n

is in Mauritius and the Lesotho Highlands Water Project accounts held in SA. Meanwhile, the LEC had since been delisted from the lawsuit. Sophonea further told the house that the<\/p>\n

government of South Africa has petitioned the High Court seeking to be a party to this lawsuit. The Minister said that Frazer Solar lawyers in Mauritius and in the United Kingdom had been approached by<\/p>\n

Lesotho and SA to place a moratorium in attaching the Lesotho\u2019s assets in this lawsuit, adding that so far, there are no country assets that have been<\/p>\n

attached. The Frazer Solar GMBH were to supply the government with 350 000 solar lanterns, 40 000 SWHs equipment (Solar Water Heating) to replace electric geysers and about 1, 5<\/p>\n

million LED light (Light Emitting Diode). According to the reports, the German government was to finance this project, and then Minister of Finance, now Prime Minister Dr Moeketsi Majoro backed down from signing such a<\/p>\n

contract. Meanwhile, it is alleged that the then Minister in the Prime Minister\u2019s Office signed such a contract on behalf of the government, the signature which he has disputed to be his,<\/p>\n

further rubbishing the order of names sequence appearing in that contract exonerating his involvement in such exercise. He told the Public Accounts Committee that he writes his names as Temeki Phoenix T\u0161olo, not T\u0161olo<\/p>\n

Temeki Phoenix as appears in the contract. Empowered by the section 3(1) of the Public Inquiries Act, 1994 Dr Majoro has set up a Commission of Inquiry which will among others investigate how the Frazer Solar company was<\/p>\n

introduced in the country and the role of those alleged to have signed the supply contract and whether there was compliance with the laws of the country.<\/p>\n

This Commission has since frozen its investigations pending the finalisation of this case before the courts. Also, the PAC has suspended its investigations into the matter following the Attorney General\u2019s<\/p>\n

letter to the Speaker of the National Assembly which ask the aforesaid committee to suspend its investigations in this matter. The case is ongoing before the courts. No one has been directly charged regarding this case.<\/p>\n

For More News And Analysis About Lesotho<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Lesotho. The Minister of Finance Hon. Thabo Sophonea has said that the government has succeeded in stopping Frazer Solar GMBH Company \u2013 a German company from attaching its assets in an ongoing lawsuit where the former had attached the government\u2019s assets to recover their money. Member of Parliament (MP) Hon. \u2018Matlhohonolofatso T\u0161epang T\u0161ita-Mosena […]<\/p>\n","protected":false},"author":84,"featured_media":5675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8,16],"tags":[233,246,424,245],"class_list":["post-5676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-lesotho","tag-government","tag-lesotho"],"yoast_head":"\nGovernment stops Frazer from attaching Lesotho\u2019s assets - Lesotho<\/title>\n<meta name=\"description\" content=\"The Minister of Finance Hon. 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