{"id":7797,"date":"2021-12-28T09:16:57","date_gmt":"2021-12-28T09:16:57","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/loic-faces-dire-financial-crises"},"modified":"2021-12-28T09:39:50","modified_gmt":"2021-12-28T09:39:50","slug":"loic-faces-dire-financial-crises","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/loic-faces-dire-financial-crises","title":{"rendered":"LOIC faces dire financial crises"},"content":{"rendered":"

Africa-Press – Lesotho. <\/strong><\/span>The Lesotho Opportunities Industrialization Centre (LOIC) is left with financial hardships after the Ministry of Small Businesses Development, Cooperatives and Marketing<\/p>\n

stopped giving subvention to the institution. LOIC acting Executive Director (ED) Kokolia Ramabele said the ministry has stopped giving them subvention in the past four months, saying they have been surviving from savings<\/p>\n

and collection of tuition fees and the money from projects that were carried out during the course of the year. \u201cThis shortage of money forces us to request<\/p>\n

an increase in tuition fees of which is very hard for us to do since our learners are from less fortunate families, we cannot burden them with extra or additional<\/p>\n

fees as that would be destroying or expelling them,\u201d he said. Ramabele indicated that the school receives M3.7million which includes lecturers\u2019 salaries, institution equipment and basically everything related to LOIC, which<\/p>\n

was supposed to be disbursed by October 2020. He stated that at least M4.8 million could cover all their expenses. He expanded that the Principal Secretary of the Ministry of Small Businesses Development, Cooperatives and<\/p>\n

Marketing terminated membership of the board members. \u201cThe reasons he gives for terminating membership of board members are not clear, those people are not in<\/p>\n

the day to day running of the school,\u201d he charged. For his part, the Ministry of Small Businesses Development, Cooperatives and Marketing Principal Secretary (PS) Tankiso Phapano said he cannot comment on the matter since it<\/p>\n

has been taken before the courts of law. \u201cThe matter is in the court as we speak where he (ED) filled the case so it is my plea to allow the courts of law<\/p>\n

to give judgement over the matter,\u201d the PS said. The institution was established in 1978 to offer vocational entrepreneurial training and development skills to the economically challenged sectors of the population.<\/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 Lesotho Opportunities Industrialization Centre (LOIC) is left with financial hardships after the Ministry of Small Businesses Development, Cooperatives and Marketing stopped giving subvention to the institution. LOIC acting Executive Director (ED) Kokolia Ramabele said the ministry has stopped giving them subvention in the past four months, saying they have been surviving […]<\/p>\n","protected":false},"author":84,"featured_media":7796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,6,8,16],"tags":[233,246,245],"class_list":["post-7797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-files","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-lesotho","tag-lesotho"],"yoast_head":"\nLOIC faces dire financial crises - Lesotho<\/title>\n<meta name=\"description\" content=\"The Lesotho Opportunities Industrialization Centre (LOIC) is left with financial hardships after the Ministry of Small B ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/loic-faces-dire-financial-crises\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LOIC faces dire financial crises\" \/>\n<meta property=\"og:description\" content=\"The Lesotho Opportunities Industrialization Centre (LOIC) is left with financial hardships after the Ministry of Small B ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/loic-faces-dire-financial-crises\" \/>\n<meta property=\"og:site_name\" content=\"Lesotho\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-28T09:16:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-28T09:39:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/12\/img-61cadb4c7df64.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"959\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/loic-faces-dire-financial-crises#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/loic-faces-dire-financial-crises\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"LOIC faces dire financial crises\",\"datePublished\":\"2021-12-28T09:16:57+00:00\",\"dateModified\":\"2021-12-28T09:39:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/loic-faces-dire-financial-crises\"},\"wordCount\":320,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/loic-faces-dire-financial-crises#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/12\/img-61cadb4c7df64.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Lesotho\",\"Lesotho\"],\"articleSection\":[\"all news\",\"economy\",\"files\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/lesotho\/all-news\/loic-faces-dire-financial-crises#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/loic-faces-dire-financial-crises\",\"url\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/loic-faces-dire-financial-crises\",\"name\":\"LOIC faces dire financial crises - 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