MASERU—The Public Accounts Committee (PAC) continued its inquiry on Wednesday into the questionable preference given to Akani Fund Administrators by trustees of the Public Officers Defined Contribution Pension Fund (PODCPF). Akani, an unlicensed company, was favored over NBC Lesotho—a licensed and cost-effective option already in operation.
PAC Chairperson Hon. Machabana Lemphane-Letsie revealed that trustees Monaheng Mahlatsi and Lekhoaba both had vested interests in appointing Akani as the fund administrator. Despite Akani’s lack of qualifications, it received higher evaluation scores than NBC. According to Lemphane-Letsie, this was no coincidence: Akani should have been disqualified.
On Tuesday, Mahlatsi admitted his personal interest in appointing Akani. He also confessed to orchestrating a court case through the Pensioners Association to block NBC Lesotho from being appointed. Mahlatsi confirmed before the PAC that the case, although filed by the Pensioners Association, was initiated by him to prevent NBC from securing the bid. Despite his efforts, NBC still emerged as the preferred bidder.
“Today, I know you were truthful because the case against the board coincided with the day the board was set to make its decision. The events happened simultaneously, proving that you did inform those people, and I must acknowledge your honesty,” said Lemphane-Letsie.
She then questioned Mahlatsi’s dual role as a trustee and a party to the court case. “As a board member, you supported the case against the board. Where do you stand when the applicants are on one side and the respondents on the other?” Mahlatsi replied that he would “take both sides,” but the chairperson quickly shut him down, stating that such a position is untenable. She emphasized that he had no right to remain on the board after betraying it in court.
“You’re not supposed to be on this board because you’re now an applicant against it. Why are you still here, Mr. Mahlatsi? How do you serve a board that you betray and disagree with?” she asked.
Lemphane-Letsie also pressed Mahlatsi on why the case had not been withdrawn, calling it dishonest given his admissions. Mahlatsi claimed that he remained on the board because he had been reprimanded by fellow trustees, and he promised to withdraw the case.
The PAC then questioned who else had scored the companies. Only Mahlatsi and Lekhoaba were involved. When asked about his contract end date, Mahlatsi replied 2026. “For your own sake and to preserve your reputation, please do the right thing and end this,” urged the PAC Chairperson.
Meanwhile, Lekhoaba confessed to giving Akani higher scores despite its lack of licensing. He admitted that Akani had deceived him, convincing him it would outperform NBC Lesotho. However, Lekhoaba insisted that he had no personal interest and only wanted the best service for the fund.
