Lesotho | Emerging Economies

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Tlohelang (Peter) Aumane

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Lesotho | Emerging Economies

  1. 1. Emerging Economies:Trends, Risks, Challengesand Potential Solutions - LesothoCRF Conference 2013Auckland New Zealand Tlohelang Aumane Director (also Registrar of companies) One Stop Business Facilitation Center
  2. 2. Outline• Who we are• Trends• Risks• Challenges• Solutions• Potential solutions
  3. 3. Lesotho• Population: 2 Million, Capital: 270 000• Area: 30 355 sq. km• UN Classification: Least Developed Country• WB Classification: Lower Middle Income• GDP Growth: 5.7%• Currency: Maloti pegged at par with ZAR• Major Economic drivers: Mining, textile and clothing, water, agriculture, wool and mohair
  4. 4. The One-Stop Business Facilitation Centre Where we are with the OBFC
  5. 5. OBFC Mandate The mandate of the OBFC is to bring together and deliver a streamlined and integrated suite of business services for enterprises and investors. In this way the OBFC contributes in the investment climate, the ease of doing business, and the facilitation of increased trade and investment in Lesotho3/19/2013 5
  6. 6. OBFC Mission To support increased trade and investment in Lesotho through providing efficient and friendly business services to its customers and advocating for a more business friendly regulatory environment in Lesotho3/19/2013 6
  7. 7. The functions• Company registration• Tax registration• Trade licensing• Industrial licensing• Export visas• Import rebates• Work permits• Residence permits• International Trade Administration
  8. 8. Priorities for 2013• OBFC legislation• OBFC Roll out• Compliance and Enforcement Unit – Training and Education – Complaints – Inspections• Re registration• Enhancement of Company Registry System• Communicate with clients (Implement FAMOS Check recommendations)
  9. 9. WB-DB– Starting a Business Ranking Procedures Procedures Time TimeCostCost Paid in Min Paid in Min Capital CapitalLesotho 79 7 24 13.0 0.0South 53 5 19 0.3 0.0Africa Zealand 1New 1 0.4 0.0BotswanaSub Africa 99 8 10 37 61 81.2 1.6 0.0 129.8SwazilandOECD 1655 12 13 56 14.1 24.1 0.4 14.1
  10. 10. Challenges• Resistance to regulatory reforms• Delays in gazetting regulatory reforms• Lack of understanding of the rationale and importance of the OSS among stakeholders• Insufficient IT infrustructure and high communication costs• Funding
  11. 11. Challenges continued• Political support• Fragmented delivery of services by individual ministries from separate locations• Focus on control and compliance in the design of processes• Governance is weak• Inward focus by government ministries
  12. 12. Potential solutions• Identify quick wins• Involved and supportive political champion/s• Dedicated and secure budget• Culture of customer service and business facilitation• An outward, client oriented orientation• Regular structured engagements with clients• The use of efficient, streamlined and automated business processes and information technology
  13. 13. Potential Solutions• Effective governance arrangements and institutional capacity – Human and financial resources – Internal systems – Business Processes – Infrastructure• Harmonise member states domestic laws and policies in the regions• Improve stakeholder participation• Effective one stop shops
  14. 14. I THANK YOU FOR YOUR ATTENTIONwww.obfc.org.ls3/19/2013 14

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