Maseru, July 8 — The Lesotho National Development Corporation (LNDC) has expressed concern over the misuse of its properties by tenants who are conducting activities that are not aligned with the intended purpose of the facilities.
Speaking during a press conference held in Maseru on Wednesday, the Chief Executive Officer of LNDC Mr. Thabo Khasipe said that the misuse of the Corporation’s facilities has contributed to a number of challenges including poor revenue collection as some tenants have consistently failed to pay rent on time.
Mr. Khasipe revealed that LNDC is currently owed approximately M50 million in outstanding rental payments, adding that the arrears continue to increase.
He stated that the Corporation is planning to implement an operation aimed at removing tenants who are in breach of their lease agreements or are misusing the properties.
According to Mr. Khasipe, the move is intended to free up the facilities for genuine investors who are ready to utilise them for their intended industrial and business purposes.
He emphasised that the initiative forms part of LNDC’s efforts to improve management of its assets, enhance revenue collection, creation of jobs and create an enabling environment for investment and economic growth in Lesotho.
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