Mashologu Retires as Head of Privatisation Unit

The Director of the country’s Privatisation Unit, Mr. Mothusi Mashologu retired this month, according to a statement from the Unit. Senior Economist Mrs. Elena Nts’eli will act in the position until the incumbent is officially announced.  

Serving the Unit for eight years, Mr. Mashologu was the first Director since its establishment in 1996. During his tenure of office, a major restructuring of the economy took place in accordance with Government’s radical reforms, touching practically all sectors. 

The privatisation programme of the Lesotho Government began with the sale of the chronically loss making Lesotho Airways Corporation which became Air Lesotho. This privately-owned Air Lesotho unfortunately became bankrupt as a consequence of the civil unrest of 1998 which seriously disrupted the operations of the struggling airline. 

One of the major achievements undertaken under the restructuring programme was the establishment of the Lesotho Unit Trust to afford Basotho an opportunity to invest in privatized companies. The Government is currently engaged in the restructuring of the Lesotho Electricity Corporation, the Privatisation Unit said. 

Other privatisations among the several which followed included Vodacom Lesotho and Lesotho Telecommunications Corporation as well as Lesotho Bank and Minet Kingsway Insurance Brokers.  

The Unit was established under the Privatisation Act, passed in November 1995.

21 September 2004