The Lesotho Electricity Company (LEC) is once again in the spotlight for the wrong reasons. The board of directors appears to be abandoning the forensic audit that justified the suspension of nearly the entire executive committee earlier this year. In its place, the board has introduced a series of disciplinary charges against members of management that insiders describe as both frivolous and misdirected.
How the Suspensions Began
The crisis began when the LEC board announced a sweeping forensic investigation in response to allegations of deep-rooted corruption, irregular procurement, and the misuse of company funds. The move was presented as a turning point in the governance of the state-owned utility.
On the back of those allegations, the board suspended almost the entire executive committee, including senior managers responsible for finance, customer services, human resources, and operations. The suspensions were justified as necessary to protect the integrity of the forensic audit and to prevent interference with investigators.
At the time, public perception was that the board was taking a decisive step toward accountability. Yet even then there were murmurs of political influence. Sources close to the process suggested that the audit was being used as a political weapon to target certain executives who had fallen out of favor with ruling elites.
Audit Abandoned Before Findings
Months later, no audit findings have been produced. Lesotho Tribune has reliably learned that the forensic process is being quietly shelved. The reason, according to multiple insiders, is that the audit no longer serves the board’s or government’s political purpose.
Two factors appear central to this decision:
I. The individuals whom the board wanted to implicate are unlikely to be named in the audit.
II. Evidence is pointing toward ruling Revolution for Prosperity (RFP) cabinet members and NEC figures who have been fingered in the plundering of the power utility.
Allowing the audit to reach its conclusion would risk exposing politically powerful actors.
New Charges Against Suspended Executives
Instead of publishing the audit’s findings, the board has opted to charge suspended executives with internal misconduct. Charge sheets seen by Lesotho Tribune outline allegations ranging from failing to maintain proper employee records, to neglecting to file reports on financial losses, to inadequate oversight of payroll and refunds.
What is striking is that these charges are administrative in nature. They revolve around alleged negligence, poor record keeping, or delays in reporting, rather than corruption or fraud. Crucially, they make no reference to the forensic audit or to the allegations that justified the executives’ suspension in the first place.
A Misguided Strategy
The board’s actions suggest misdirection. The original mandate was to get to the bottom of alleged large-scale corruption at LEC. By quietly abandoning the audit and pressing technical charges instead, the board risks undermining both corporate governance and public trust.
Observers warn that this approach carries three risks:
• It erodes confidence among stakeholders who expected a transparent audit.
• It shields political figures from accountability by diverting focus onto mid-level negligence.
• It destabilizes the utility by prolonging the uncertainty of leadership and weakening the morale of staff.
A Larger Governance Crisis
The LEC saga is more than an internal company issue. It is another chapter in the governance failures of state-owned enterprises in Lesotho. Boards are often captured by political interests and end up using oversight mechanisms for political maneuvering rather than accountability.
The decision to abandon the forensic audit and replace it with weaker charges against suspended executives sends a troubling message. It leaves unanswered questions about the scale of financial impropriety at LEC and reinforces the perception that accountability ends where political interests begin.
