FamCast News
23 days ago


By Matšeliso Phulane

Revenue Services Lesotho (RSL) and the Agents of Foreign Firms Association of Lesotho (AFFAL) on Wednesday this week formalised their partnership through the signing of a Memorandum of Understanding (MoU).

AFFAL is transforming business landscapes in Lesotho and beyond by advocating for policy reforms and empowering communities through strategic initiatives. It is led by visionary leaders Tankiso Tšoaeli as chairperson and Mathew Thamae as deputy chairperson.

The association provides services like sales team efficiency analysis, product sales monitoring and tax compliance training. AFFAL also optimises strategies for increased revenue and productivity, enhancing effectiveness and performance.

The MoU is intended for exchange of information and systems integration between the two organisations.

The agreement will also pave way for implementation of new declaration requirements for large importers involved in direct importation of goods from manufacturers into Lesotho.

Speaking at the signing ceremony, RSL commissioner general ‘Mathabo Mokoko said this collaborative effort aims to create a cohesive framework that enhances regulatory compliance, promote transparency, and foster a fair business environment.

“This moment marks a turning point in our collective journey towards fostering a more transparent efficient and compliant business environment in Lesotho.

“Our collaboration is rooted in the shared vision of enhancing information sharing and system integration to ensure robust compliance and streamline operations.

“The scope of this MoU is both ambitious and critical. Through the connection of our respective systems and the use of other appropriate means, AFFAL will share pertinent information with RSL,” she said.

She indicated that this collaborative effort is designed to fortify RSL’s compliance mechanisms, ensuring that all foreign firms agents operating within the Lesotho borders adhere to the highest standards of legal regulatory requirements.

The integration of their system will not only facilitate seamless information exchange, but also significantly enhance their capacity to monitor and manage the economic activities of foreign entities.

This in turn, will help in identifying and addressing potential compliance issues promptly and effectively. By doing so, they are not only safe guarding a business climate that is fair, competitive and conducive to sustainable growth.

“I would like to take this opportunity to commend the leadership of AFFAL for their proactive approach and commitment to this cause. Your willingness to collaborate and share information underscores the importance of mutual trust and cooperation in our goals.

“Together we can build a framework that not only enhances compliance but also promote a culture of accountability within our business community,” Mokoko added.

On his part, the chairperson of AFFAL and head of fast moving consumer goods, Tankiso Tšoaeli, said he was thankful for the partnership with RSL and that there is now a history that people know about with the two parties’ journey set to be continuous.