Private Sector Foundation of Lesotho


It is agreed and herein recorded accordingly that the objectives for which the Foundation is established are to:

 1. Serve as the focal point for the private sector in its advocacy of policies and, to promote the long – term development of the private sector in Lesotho;

2. Promote and ensure sustained dialogue between the government and the private sector and to provide a non-profit means of furthering and promoting the development of the private sector economy, including by:  

 (a) Foster participation of the private sector in the Business Council and public decision making and implementation sections and divisions affecting economic and business activity;

 (b) Assisting in the creation of employment;

 (c) Promoting all sectors of the economy such as tourism, agro-industry and mining;

 (d) Promoting the injection and generation of resources into the private sector for the benefit and welfare of the nation;

 (e) Actively encouraging associations, institutions, professional bodies, businesses and other organisations to play their roles in the Foundation;

(f) Lobbying the National Assembly on behalf of the private sector;

 (g) Creating opportunities for Members to share knowledge, expertise and resources;

 (h) Developing policies and strategies to assist Members;

 (i) Promoting and maintaining co-operation, collaboration and close relations with all stakeholders in the public business sector organisations;

 (j) Affiliating and promoting liaison and co-operation with other groups representing business interests;

3. Promote the competitiveness of the business sector and the entire economy of Lesotho and internationally;

 4. Act as a focal point for promoting and maintaining performance standards for the private sector, through strengthening of private sector associations and businesses;

 5. Organize and mobilize resources locally and abroad as well as to secure a sound financial base for the Foundation and, to receive funds, acquire properties and other assets and resources for the promotion and furtherance of any of its objectives;

 6. Accumulate, provide and act as a data centre, as well as to provide consultation and technical advice to and for the private sector in order to formulate sound and consultative policies, recommendations and guidelines for developing and improving the efficiency of the private sector;

 7. Receive, acquire or otherwise obtain from any government, national or international entity, natural or corporate person, foundation or other entity, such rights, charters, licenses, concessions, property, funds, other assets and / or assistance, financial or otherwise, conducted or aimed at the full attainment of these objectives;

 8. Design educational and training programmes for the development of the private sector as well as to institute, establish and promote training courses, grants, awards and / or prizes or otherwise, to encourage education in the principles and practice of commerce, industry, agriculture, mining and all other types of business;

 9. Encourage, promote and support the involvement of all parts of the private sector in and for the attainment of these objectives;

 10. Enter into contracts and other types of activities for a full realization and achievement hereof these objectives;

 11. Establish, maintain, organize, manage as well as finance trade, industry, industrial and / or agricultural exhibitions, on its own or, in collaboration with other stakeholders and / or organizations, entities ,or otherwise;

 12. Provide facilities for the study, enquiry and / or research into commercial, industrial, agricultural and / or other business matters or venture, as well as make to be known the results thereof by and through the production, publication and / or distribution, whether on copyright or otherwise, of books, pamphlets, films, posters, periodicals, journals and / or in such other manner as may be deemed expedient and / or fit;

 13. Promote and enhance a speedy and amicable settlement of disputes arising out of and consequential to business transactions, otherwise provide and facilitate for mediation and / or arbitration of same;

 14. Perform and undertake all such other tasks as may reasonably be deemed necessary, expedient, conducive and / or incidental to the full attainment of these objectives.