We build industry - Lesotho National Development Corporation

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NewsPage 2LNDC VisionBy 2020, LNDC shallbe a leading institutionin industrial and commercialdevelopmentin the SADC region,through expanded anddiversified sustainablehigh quality investmentsthat will createwealth and jobs forBasotho.Mission StatementTo promote economicgrowth by facilitatingthe development ofsustainable medium tolarge enterprisesthrough promotionand establishment ofdomestic and foreigndirect investment.Notice is hereby given to all interestedBasotho who have suitablebuildings that can be rented andused as factory shells by industrialiststo register such buildingswith the LNDC.The requiredbuildings should conform to theLNDC’s standards and other legalrequirements.FactoryBuildingsWantedWhen registering, the followingfeatures should be clearly stated:plot number, location, size(strictly 500m² or bigger), titledeed, height, and available infrastructuresuch as installed electricityin kva, water in kilolitres,etc.For further details, contact theoffice of the Head – InvestmentServices Division at LNDC, P/BagA96, Maseru, 5 th Floor, Block A,Development House, KingswayStreet, Maseru.Tel. : +266 22312012Fax: +266 22310038Email: info@lndc.org.lsInside this issue:From the CEO’s Desk 3His Majesty King Letsie III Leads an Investment PromotionMission to Dubai4A Bags and Tents Manufacturing Company sets up atThetsane Industrial EstateLesotho’s Consul Generals to Germany on a Tour of LNDCProjects56Source Africa Event 7Training on Best Practice Procedures in Investment Promotion,SME Development and Export Promotion8LNDC Addresses Final Year University Students on EmploymentOpportunities9“Why Lesotho” 10
NewsPage 3From the CEO’sDeskDevelopment finance initiativeConsultations with a number of keystrategic partners will commence duringthe next quarter to initiate a programtowards implementing the Corporation’sstrategic vision of becoming afully-fledged development finance institution.Discussions have begun withthe SADC DFRC towards developingan action plan that will include aroadmap. Furthermore, a mission bythe European Investment Bank will visitMaseru to initiate discussions on assistingthe Corporation to develop financingmechanisms for local initiatives.Services hub initiativeAs part of its investment diversificationprogram, the Corporation will finaliseconsultations with key potential strategicpartners aimed at establishing aframework for facilitating Business ProcessOutsourcing sector projects. Theon-going discussions are with Fujitsu tosecure its investment which will serveas an anchor project.Furthermore, within the services sectorstrategic framework, the Corporationwill pursue a cluster development strategythat will facilitate investments byservice providers in the mining sector.The key objective is to develop aframework and related infrastructure tofacilitate core service providers to themining industry to locate and offer theirservices from a hub to be developedwithin the Ha Belo industrial estate.In addition, the Corporation is discussingthe development of an office parkthat will serve as a hub for ICT basedcompanies. The objective is to providerequisite infrastructure to boost thegrowth of local ICT companies in thesame manner that the Corporation providesindustrial infrastructure to themanufacturing sector.Property portfolio rationalisationstrategyThe rationalisation of the managementof the property portfolio will be finalisedduring the coming quarter to ensure amore strategic management of theportfolio and a streamlined service provision.The Corporation will also revise itsrental policy to ensure that it is supportiveof its mandate of growing the economyand driving economic empowerment.Investment promotionThe Corporation is preparing for aninvestment drive in South Africa thatwill be held towards the end of 2013.This investment drive will focus on anumber of key sectors including automotive,textiles and light electronics.Financial managementThe Corporation will begin implementationof a 5-year revenue strategy.Among its key objectives will be to increasethe Corporation’s revenue basethrough, among others, rationalisationof its cost structure, identification ofnew investment opportunities to generateincreased revenue and a review ofthe existing equity portfolio.On the basis of this new revenue strategy,the Corporation aims to issue dividendsto its shareholder every financialyear.
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