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Chairpersons

Lesotho National Development Corporation Embroiled in Chief Internal Auditor Appointment Scandal

Strategic Insights

— 1 min read

The Lesotho National Development Corporation (LNDC) has been accused by the Public Accounts Committee (PAC) of hiring an unqualified Chief Internal Auditor, Mapaballo Rantsane, as part of a "kickback" for allegedly "cleaning up" an adverse 2021/2022 audit report. The appointment has sparked controversy, with PAC members questioning the legitimacy of Rantsane's hiring and the corporation's credibility in the eyes of investors.

Key Takeaways:

  • The Public Accounts Committee (PAC) has accused the Lesotho National Development Corporation (LNDC) of hiring an unqualified Chief Internal Auditor, Mapaballo Rantsane, as payback for "cleaning up" an adverse 2021/2022 audit report.
  • Rantsane was previously employed at the Office of the Auditor-General (OAG) and initially issued a disclaimer audit report for LNDC in 2021/2022. She later compiled a clean report for the corporation, before securing the plum job at LNDC.
  • Rantsane did not pass the psychometric test for the position and did not meet the minimum qualifications required for the corporation's Chief Internal Auditor.
  • The required credentials include a Certified Internal Auditor qualification, a master's degree in Internal Audit or Accounting, or Chartered Institute of Management Accountants certification.
  • Rantsane admitted that she did not hold any of these qualifications, but claimed to have equivalent experience as Internal Audit Manager at FNB Lesotho for five years and Chief Audit Executive at the Lesotho Millennium Development Authority (LMDA) for three years.
  • PAC members expressed concerns about LNDC's credibility in the eyes of investors and recommended that Rantsane be removed and the board held accountable.
  • LNDC was criticized for its failure to submit special reports requested by the PAC, including details on salary structures, international trips, and the process hierarchy for awarding certificates to companies.

Statistics:

  • 2021/2022: The year in which Rantsane was responsible for auditing LNDC and issued a disclaimer audit report.
  • 2023: The year in which LNDC appointed Rantsane as Chief Internal Auditor.
  • 5 years: The length of time Rantsane worked as Internal Audit Manager at FNB Lesotho.
  • 3 years: The length of time Rantsane worked as Chief Audit Executive at the Lesotho Millennium Development Authority (LMDA).
  • None: The number of qualifications that Rantsane holds, despite claiming to have equivalent qualifications.
  • 1: The number of psychometric tests that Rantsane passed for the position of Chief Internal Auditor.

Sources:

  • "Lesotho Times" (2025)
  • "AllAfrica Global Media" (2025)

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