Lesotho is hosting the Africa State-Owned Enterprises (SOE) Corporate Governance Summit from 24–26 August 2026 in Maseru under the theme, “Corporate Governance as a Tool for Transforming African SOEs into Global Competitors.”
The three-day summit brought together Cabinet Ministers, senior Government officials, SOE leaders, policymakers, governance experts and industry leaders to deliberate on strengthening corporate governance, accountability and performance of SOEs, while exploring ways to transform them into sustainable and globally competitive institutions.
The summit has attracted experts and industry leaders from Lesotho, Zambia, Zimbabwe, Seychelles, Mauritius, Tanzania, Malawi, Eswatini, Namibia and Kenya, providing a platform for the exchange of experiences, expertise and best practices in SOE governance across the continent.
The strong representation of Government at the summit demonstrates its commitment to strengthening the governance and performance of public enterprises as part of Lesotho’s broader socio-economic transformation agenda.
The first day of the summit is held under the theme, “Architecting the Sovereign Mandate: Align Policy, Ethics, and Capital to Build Sustainable State Enterprises.
”Officially opening the summit, Deputy Prime Minister of the Kingdom of Lesotho, Justice Nthomeng Majara, said the transformation agenda of the summit rests on four key pillars aimed at strengthening the governance and performance of SOEs.
The first pillar is improving the corporate governance regime, with a focus on strengthening governance systems and accountability within State-Owned Enterprises.
The second is professionalizing the State as a shareholder by strengthening discipline in the management and oversight of public enterprises.
The third pillar is depoliticizing SOE boards while promoting operational excellence, ensuring that boards are constituted and operate in a manner that prioritizes competence, professionalism and the effective delivery of institutional mandates.
The fourth pillar is institutionalizing the social mandate and intergenerational value, ensuring that SOEs not only contribute to present national development priorities but also create sustainable value that benefits future generations.
Justice Majara said these pillars are critical to moving beyond administrative compliance towards outcome-based governance, where institutional integrity, accountability and performance become central to the management of public enterprises.
The Deputy Prime Minister further said the summit should draw practical lessons and best practices from fellow African countries, including Rwanda, Ethiopia, Kenya and Zambia, as well as international countries such as Singapore, Norway, South Korea and Germany, benchmarking structural management, strong governance and the separation of the State’s ownership role from the day-to-day management of key SOEs.
This approach is intended to strengthen professional management while allowing Government to exercise effective shareholder oversight without interfering in the daily operations of enterprises.
Her keynote address, titled “Corporate Governance as a Tool for Transforming African SOEs into Global Competitors,” further underscored the importance of anti-corruption measures, regulatory reforms and values-driven accountability in protecting public resources and strengthening the integrity of State-Owned Enterprises.
In her welcome remarks and role of introducing the Principal Dignitary, Minister of Finance and Development Planning, Dr Retselisitsoe Matlanyane, underscored the importance of good governance to the success of State-Owned Enterprises, noting that SOEs are arms of Government through which the State delivers services and advances national development objectives.
Dr Matlanyane said Government must establish clear mandates for SOEs, set measurable timelines and performance expectations, and appoint competent persons to the boards of these institutions. She emphasized that clearly defined mandates and measurable expectations are essential for holding SOEs accountable for their performance and assessing their contribution to national development.She further stressed that citizens have a responsibility to ensure that the right representation is placed at the highest levels of governance, highlighting the importance of capable, accountable and ethical leadership in public institutions.
The summit provides an important platform for African countries to exchange practical experiences, benchmark governance models and identify reforms that can strengthen the sustainability, efficiency and competitiveness of public enterprises.
Distributed by APO Group on behalf of Government of Lesotho.
