The Lesotho National Development Corporation (LNDC) is set for a major leadership shake-up, Lesotho Tribune has learned. Reliable sources within the LNDC board confirm that Acting CEO Molise Ramaili will vacate his post on 31 October 2025, paving the way for Thabo Khasipe to assume the position of substantive Chief Executive Officer.
Outgoing CEO – Molise Ramaili
Ramaili, an advocate by training, was first appointed to lead the LNDC in an interim capacity in 2021. He holds an LLB from the National University of Lesotho and began his career at Horn & Van Rensburg Attorneys in Bloemfontein before returning to Lesotho. Prior to joining LNDC, he built corporate experience in both the banking and telecommunications sectors – roles at companies such as Vodacom Lesotho, the Water and Sewage Company (WASCO), and major financial institutions including First National Bank Lesotho, Letshego and Lesotho PostBank. During his time at the LNDC, Ramaili has emphasised the need for inclusion of youth and women in Lesotho’s development agenda and has been a visible voice on the investment front.
He leaves behind unfinished Parliamentary Public Accounts Committee (PAC) directives, including firing of an Internal Auditor hired under dubious circumstances, worryingly the internal auditor is related to the LNDC board chairperson.
Molise was also directed to suspend and investigate a corrupt LNDC Officer, Tšepo Putsoa who has adverse findings against him, including misappropriation of over M1 million, a M500k generator he purchased and over delivered amongst a litany of finding.
It remains to be seen how Khasipe will deal with the mess at LNDC created in the main by ruling Revolution for Prosperity (RFP) who as per the PAC evidence had turned LNDC into their fiefdom and a piggy bank to fund their failing businesses.
Incoming CEO – Thabo Khasipe
Khasipe brings a strong economic and public-sector leadership background. According to his bio, he holds a Bachelor’s degree in Economics from the National University of Lesotho (1994) and a Master’s degree in Econometrics and Quantitative Economics from the University of Nairobi (1998). He later earned an MBA from the University of the Free State (2008). He is also a Chartered Financial Analyst (CFA). His career path has included roles as Commissioner of Customs and Excise at the Lesotho Revenue Authority (2003), Deputy Commissioner-General, and stints in the private sector including general management of Stanlib Lesotho (2007-2008). Notably he served as Lesotho’s Ambassador to Kuwait (2008-2014) and subsequently held senior roles in government revenue services as well as in the regional customs and trade arena. While his current role is Executive Secretary of the Southern African Customs Union (SACU) since 1 February 2023, his appointment to LNDC signals a pivot to leading investment and development at home rather than purely trade/regional matters.
He, like Molise comes with a cloud hanging over head, due to his position as Lesotho Electricity Company (LEC) board chairperson. During his tenure PAC revealed industrial scale looting and mismanagement. In three years LEC has had a shocking turnover of CEOs seating at three at this point.
Just like with LNDC, LEC’s problems seems to have been exacerbated by the ruling RFP with its “tenderpreneurs” and rent seeking leaders hellbent on milking the state power institution dry.
Will Khasipe put a stop to the madness happening at LNDC championed by RFP goons or it’ll be “business” as usual?
What This Means for LNDC and Lesotho
This leadership shift comes at a time when Lesotho needs dynamic investment promotion, stronger investor confidence, and tougher governance of development agencies.
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