CBL honoured for ethical procurement

The Central Bank of Lesotho (CBL) has become the first organisation in the country to receive the prestigious 2025 Corporate Ethical Procurement and Supply Award from the Chartered Institute of Procurement and Supply (CIPS).

The award recognises institutions that demonstrate transparency, integrity and accountability in managing procurement — a function that has, in many parts of Africa, often been linked to corruption and mismanagement.

CBL Chief Corporate Communication, Ephraim Moremoholo, said the accolade affirms the bank’s commitment to fair and competitive procurement practices, which are anchored in international standards.

“This recognition shows that CBL upholds the highest levels of efficiency, transparency and integrity in its procurement and supply chain management. It reflects our commitment to accountability and strengthens our reputation as a credible and well-governed institution both locally and across the continent,” he said.

According to Moremoholo, the bank’s procurement is guided by clear internal policies that outline responsibilities for officers and decision-makers. The bank prefers open tendering to encourage competition and strictly enforces a code of conduct that prohibits conflicts of interest and undue influence.

He added that CBL regularly trains its employees in ethical procurement and global best practice, particularly through CIPS programmes.

“Ethical procurement ensures resources are used efficiently, reduces risks, and guarantees that suppliers comply with ethical and legal standards, including anti-corruption and environmental protection requirements,” he explained.

Beyond compliance, the bank sees procurement as central to its wider mandate of safeguarding Lesotho’s economy.

“As the custodian of monetary stability, we must also ensure prudent management of our own resources. Ethical procurement is part of that stewardship,” Moremoholo noted.

He emphasized that every transaction must deliver value for money and reflect the institution’s core values: respect, excellence, accountability, diligence and integrity.

“By embedding these principles into procurement, CBL not only supports operational efficiency but also reinforces public trust in the institution,” he said.

The award, Moremoholo added, is both a recognition of the professionalism of CBL’s staff and a challenge to maintain the same standards in future.