Postbank in daring move against its own

RETHABILE MOHONO

MASERU – Three of Lesotho Post Bank senior executives have been suspended in a daring and decisive move that has shocked the local banking industry. The suspension, which took immediate effect, was announced by Advocate ’Mampe Matela-Mphaka, the chairperson of the bank’s board of directors, in a press statement that underscored the gravity of the situation.

The suspensions are not merely punitive; they are a strategic step to facilitate an unimpeded investigation into the conduct of the individuals involved. Advocate Matela-Mphasa said the primary aim is to ensure that the investigation is conducted with the utmost integrity, without interference or bias.

The action, she said is designed to allow for the conduct of a thorough investigation against the trio while protecting all parties, including potential witnesses. The executives at the centre of this unfolding drama are Managing Director, Molefi Leqhaoe, Chief Sales Officer ’Mathabo Lebohang Tšehlo, and Digital Banking Officer ’Mamohau Mapota.

Their suspension marks a significant moment for Lesotho Post Bank, a state-owned entity that has long been regarded as a pillar of financial stability in the country. In a move that demonstrates the bank’s commitment to maintaining continuity in its operations, interim replacements have already been appointed.

Mahase Mahooana, a seasoned IT professional with a wealth of experience in the banking and telecommunications sectors, has been named Acting Managing Director. His credentials are impressive, with over 22 years of experience, including a notable six-year stint in Europe.

Mahooana is not a stranger to leadership; he currently holds the position of Chief Operation Officer at Lesotho Post Bank, where he has played a pivotal role in overseeing critical operational functions.

Joining Mahooana in these interim roles are Thuso Ramatlapeng, who will serve as Acting Chief Digital Banking Officer, and Lineo Masupha, stepping into the role of Acting Chief Sales Officer. Both individuals bring a blend of experience and innovation, ensuring that the bank’s strategic objectives remain on course during this period of transition.

The decision to suspend these high-ranking executives has inevitably raised questions and sparked discussions within the financial community and beyond. However, the bank has remained tight-lipped about the specifics of the investigation.

When approached for comments, Tlali Kele, the bank’s Marketing Manager, refrained from divulging further details, instead urging patience until a formal statement is issued.

“At this stage, the bank is not in a position to address specific queries. We advise the public to rely on official communications and avoid speculation,” Kele advised, adding that information circulating on social media should be treated with caution.

In an effort to preserve the bank’s reputation and maintain confidentiality, the board has also issued a directive to employees, advising them against discussing the matter publicly. This move is consistent with the bank’s broader commitment to upholding high standards of corporate governance and ensuring regulatory compliance.

As the investigation proceeds, Advocate Matela-Mphasa has sought to reassure stakeholders and the public that the suspensions will not negatively impact the bank’s daily operations. “We remain committed to transparency and will provide relevant updates as necessary,” she concluded, signalling the board’s intention to manage the situation with both decisiveness and care.

This incident marks a critical juncture for Lesotho Post Bank, as it navigates the challenges of internal scrutiny while striving to maintain the trust and confidence of its customers and stakeholders.