Maseru, Aug.19 – The Central Bank of Lesotho (CBL) has been awarded the 2025 Corporate Ethical Procurement and Supply Award by the Chartered Institute of Procurement and Supply (CIPS), making it the first institution in the Kingdom to receive this international honor.
The award recognizes organizations that demonstrate integrity, transparency and accountability in their procurement practices. It comes at a time when procurement, across both public and private sectors in Africa, is often associated with corruption scandals and inefficiencies.
In its official post, CBL said the award was a testament to its continuous efforts to maintain trust and uphold ethical standards.
The Bank outlined that the award is also a reflection of its unwavering dedication not only to excellence but also to being a trusted institution for all stakeholders.
CIPS, a globally respected body for procurement professionals, introduced the Corporate Ethical Procurement and Supply Award to highlight organizations that lead by example in responsible sourcing and ethical supply chain management.
By earning this recognition, CBL joins a select group of institutions worldwide that have successfully demonstrated strong governance in procurement.
Analysts view the award as a significant achievement for Lesotho’s financial sector. It sets a benchmark for other institutions in the country to strengthen their procurement systems, align with international standards, and prioritize ethical practices.
The award reaffirms the Central Bank of Lesotho’s role as a leader in governance and ethics, demonstrating that procurement, when managed with transparency and accountability, can be a catalyst for sustainable development rather than a source of controversy.
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