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Mohlomi Code

Mohlomi Corporate Governance Code is the first corporate governance code developed for Lesotho. The Code is named after Chief Mohlomi who is popularly known as the father of Botho (Ubuntu). He travelled throughout East and Southern Africa teaching the principles of Botho. When he was too old to travel he established a leadership academy at Ngoliloe (east of the present day Free State province of the Republic of South Africa). One of his students was Lepoqo who later became King Moshoeshoe I. King Moshoeshoe I founded Basotho nation based on the leadership principles he learned from Mohlomi.

Mohlomi code was developed by Mohlomi Committee consisting of representatives of various stakeholders in corporate governance in Lesotho. The Code is applicable to all organisations from small, micro and medium enterprises (SMMEs), not for profit organisations (NPOs), corporates and state owned enterprises (SOEs).

The Code has a total of 22 principles bundled into 6 clusters of Board Leadership; Board Conduct; Board Composition, Structures and Remuneration; Audit, Compliance and Risk; Digitalization Governance and; Sustainability and Integrated Reporting.