CBL sets benchmark for procurement integrity in Lesotho
RETHABILE MOHONO
MASERU – The Central Bank of Lesotho (CBL) has made history by becoming the first institution in Lesotho to receive the 2025 Corporate Ethical Procurement and Supply Award from the Institute of Procurement and Supply.
According to Ephraim Moremoholo from the CBL: “We are proud to have achieved this recognition, which demonstrates our commitment to implementing fair, accountable, and competitive procurement procedures.”
The award recognizes organizations that demonstrate a strong commitment to ethical procurement and supply practices, including the principles of integrity, transparency, and accountability.
Speaking to this publication, Moremoholo explained that the award means the CBL has demonstrated high standards of efficiency, transparency, and integrity in the management of procurement and supply chain processes.
“It means that the Central Bank of Lesotho has demonstrated high standards of efficiency, transparency, and integrity in the management of procurement and supply chain processes, indicating the bank’s commitment to implementing fair, accountable, and competitive procurement procedures,” he said.
The CBL’s procurement processes are guided by clear internal policies, which define roles for procurement officers and all relevant authorities.
“The bank prefers open tendering as the method to promote competition and follows a code of conduct that prohibits conflicts of interest or undue influence,” Moremoholo said.
The bank also regularly capacitates its employees on ethical procurement practices and international standards, such as the Chartered Institute of Procurement and Supply (CIPS).
“The Bank has adopted the CIPS Corporate Code of Ethics,” Moremoholo added.
The Governor and the Executive Management of the bank champion transparency and ethical conduct, setting the tone from the top.
“The Governor and the Executive Management of the bank champion transparency and ethical conduct, setting the tone from the top,” Moremoholo said.
The CBL’s commitment to ethical procurement is essential to its overall mandate and long-term vision.
“Ethical procurement ensures efficient use of resources, transparency, accountability, and risk reduction,” Moremoholo explained.
“By upholding respect, excellence, accountability, diligence, and integrity as its values, the bank demonstrates its commitment to responsible stewardship of resources and to the highest standards of governance.”
The award sends a strong message to other public institutions and the private sector in Lesotho.
“The bank has become Lesotho’s benchmark for procurement integrity, inspiring other institutions to strengthen governance,” Moremoholo said.
“Compliance with ethical procurement principles has deepened confidence among government, regulators, regulated entities, and the public. Leadership commitment to integrity is crucial. Without it, ethical procurement will come to naught. Transparency builds trust. Training of procurement and other staff of an institution ensures adherence.”
The CBL plans to maintain and further strengthen its ethical procurement practices.
“The bank will continue to strive and ensure best practices are embedded in its procurement operations and also ensure that in future all its suppliers adhere to the same practices by way of investing in strategic supplier relationship management as well as supplier development,” Moremoholo said.
The CBL also foresees investing in digital platforms such as e-procurement and e-tendering systems to keep raising the standard in procurement practices.
“Yes, including investing in digital platforms such as e-procurement and e-tendering systems,” he confirmed.
This recognition is a significant milestone for the CBL, and it reinforces the bank’s commitment to transparency, accountability, and integrity in all its operations.
