BILLY NTAOTE A major row has erupted over a Lesotho parastatal’s dealings with a South African company over an estimated 20 million maloti tender for two oxygen generating plants that are set to play a key role in the country’s health system. Cape Town-based Foxolution Systems Engineering was engaged to advise the

SECHABA MOKHETHI The Lesotho government is to slash its M2.45-billion budget for an “ambitious and fancy” stadium development after scrapping guarantees to a little-known private South African financier, according to a well-placed government source. The source said the cash-strapped government would now provide all the funding and that in consultations with the sports ministry it had talked

Lesotho ministry of finance cancels M2.45-billion funding deal and slams obscure South African financier SECHABA MOKHETHI The ministry of finance has cancelled government guarantees securing M2.45-billion in loans from a little-known South African company, Property 2000. The loans were to be issued for the construction of a stadium, an indoor sports arena and athletes village as Lesotho prepares to

Moneylender caught up in SA’s state capture inquiry is behind controversial Lesotho loan      SECHABA MOKHETHI Property 2000, the South African developer earmarked to lend M2.45-billion to three Lesotho building contractors, is simply a middleman sourcing funds from other investors, including the obscure Grissag AG, a company previously linked to shady deals. The Lesotho ministry of finance has cancelled

Were political supporters favoured in a deal that was pushed through despite red flags?   SECHABA MOKHETHI The government has dished out a M2.45-billion stadium deal to a group of contractors that includes two senior members of the Alliance of Democrats (AD), a long-standing contact of AD sports minister Mahali Phamotse, and a relative-cum-business-associate of two men convicted