Governance Analysis: Imported ESG Frameworks vs Lesotho’s Development Agenda

At the core, imported ESG frameworks in Lesotho’s banks do some good for development, but structurally they exist first to protect the South African parent balance sheets, and only secondarily to advance Lesotho’s own agenda. Let’s unpack that in a governance-focused way. 1. Who designs the ESG rules that Lesotho’s banks follow? Three of Lesotho’s four commercial banks are subsidiaries: – Standard Lesotho Bank → Standard Bank Group (JSE-listed, SA-regulated). – Nedbank Lesotho → Nedbank Group. – FNB Lesotho →…Continue reading with a subscriptionSubscribe for full access to every story.Subscribe - M85/monthAlready a subscriber? Sign in Advertisement ...