The Board of Directors of the Central Bank of Lesotho plays a crucial role in the governance and strategic direction of the Bank. The Governor, who is also the Chairman of the Board, along with the Deputy Governors, are appointed by His Majesty the King on the advice of the Prime Minister.

Dr. E. M. Letete

Executive Director and Chairman (Governor)

Mr. P.L. Mohapi

Executive Director (First Deputy Governor)

Mr. M. Letsoela

Non-Executive Director

Dr. R. Thamae

Non-Executive Director

Ms. R. Tlali

Non-Executive Director

Mr. O. ‘Nete

Non-Executive Director

Dr. M. Kulehile

Non-Executive Director

Mr. N. Rantsane

Board Secretariat

Dr. E. M. Letete

Executive Director and Chairman (Governor)

Qualifications: Doctor of Philosophy (Ph.D), University of Cape Town (UCT). Ph.D. thesis on Governance, Institutions and Finance. Certificate in Central Banking and Regulation.

Professional Roles: Governor Dr. Letete served as the Chief Economic Advisor to the Prime Minister of Lesotho. His vast professional roles include: NSDP II Project Manager/Coordinator and Lead Consultant under the Ministry of Finance, Lesotho, Non-Executive Director at the Central Bank of Lesotho (over five years), full-time member of the Risk and IT Governance Committee (RITGC) and Monetary Policy Committee at the CBL. He is also the lead author of the second National Strategic Development Plan (NSDP II). He was a Senior Lecturer and Head of Department of Economics at the National University of Lesotho and a Lecturer in Economics at the University of Cape Town, School of Economics.

Awards and Recognition:

  • The Next Generation for Social Sciences in Africa Award
  • Recipient of the Carnegie Award

Mr. P.L. Mohapi

Executive Director (First Deputy Governor)

Qualifications: Bachelor of Arts (BA) in Economics, National University of Lesotho, Master of Science (MSc) in Economics & Econometrics, University of Manchester,UK, Master of Business Administration (MBA),Heriot-Watt University,UK.

Professional Roles: Mr Mohapi is the current First Deputy Governor of the Central Bank of Lesotho. His previous professional roles include; Acting Governor, Central Bank of Lesotho (Jan 01 – May 31, 2022). He was also the Chief Economist & Head of Research, Central Bank of Lesotho for over 9 years. Other roles include serving as Executive Secretary, Universal Service Fund, Lesotho Communications Authority, Chairman of the Board of Directors, Revenue Services Lesotho from June 2014 – July 2017 and Senior Lecturer and Head of Economics Department at the National University of Lesotho.

Mr. M. Letsoela

Non-Executive Director

Qualifications: B.A. Public Administration and Political Sciences, National University of Lesotho (NUL), Diploma in Business Studies, National University of Lesotho (NUL)

Professional Roles: Mr Letsoela is the Managing Director and Founding member at Sign World where he manages and coordinates daily operations, expands production facility and the clientele base. He was also a Marketing Manager at Easy Communications. He also served as Second Secretary, Directorate of Economic & International Organizations at the Ministry of Foreign Affairs. His other professional roles include; Current Executive Committee member at LRA Business Forum where he Coordinates relations between the business community, LRA and government departments, promoting tax compliance and business community challenges. He is also a board member of Seahlolo Investment Company which identifies business opportunities for local participation, and advocates for government to unbundle shares for local business groupings or cooperatives.

Dr. R. Thamae

Non-Executive Director

Qualifications: PhD. Economics, University of South Africa, M.A. Economics, University of Mauritius. B.A. Economics, National University of Lesotho.

Professional Roles: Mr Thamae is a Senior Lecturer of Economics, National University of Lesotho. He is also a Part-time Lecturer at the Energy Research Centre, National University of Lesotho. He is the Risk and Information Technology Governance Committee Member for the Central Bank of Lesotho where he oversees risk and IT governance and a Monetary Policy Committee Member in the Bank. His previous roles include; Part-time Lecturer, Department of Agricultural Economics and Extension, and Lecturer, Department of Economics at National University of Lesotho having been a Teaching Assistant, Department of Economics and Faculty Tutor, Faculty of Social Sciences in the same university. He is a member of various professional institutions, namely; Institute of Directors South Africa (IoDSA), Economic Society of South Africa (ESSA), Econometric Society (ES) in Africa, National University of Lesotho Energy Research Centre (ERC), National University of Lesotho Innovations Committee (NULIC) and Faculty of Social Sciences Research and Conference Sub-Committee at the National University of Lesotho.

Ms. R. Tlali

Non-Executive Director

Qualifications: B.A(Ed), National University of Lesotho, Charted Accountant (Lesotho Institute of Accounts) and a Post Graduate Diploma Computer Auditing (Witwatersrand).

Professional Roles: Ms Tlali has a vast working experience serving professional roles; she worked at Lesotho Highlands Development Authority (LHDA) first as a Chief Accountant, General Finance Manager and a Chief Executive of LHDA. She also served as a Chief Executive at Water and Sewage Company (Wasco), Resident representative of Rockblue. In addition to her roles, she served as an assistance lecturer at the Centre of Accounting.

Mr. O. ‘Nete

Non-Executive Director

Qualifications : Bachelor of Science, National University of Lesotho, Bcom (Accounting) University of Cape Town, Bcom Honors (Rand Afrikaans University) Mcom (South African and International Taxation) University of Johannesburg.


Professional Roles : Mr ‘Nete is a highly accomplished finance guru with remarkable experience in the finance and credit in commercial bank and diamond mining industries. In his early career, he served as Tax Manager at Stanlib and worked as Head of Finance, Liqhobong Mining Development Company. Mr ‘Nete worked at the Standard Bank of Lesotho as both a Senior Finance Manager ,Finance Manager and a Senior Manager Personal Credit. In his current role, he works at the Revenue Services Lesotho as a Commissioner Business Enablement.

Dr. M. Kulehile

Non-Executive Director

Qualifications: Doctor of Philosophy, University of Cape Town, South Africa, Master of Laws (LLM), University of Cape Town, South Africa, Postgraduate degree, Bachelor of Laws (LLB), National University of Lesotho, Bachelor of Arts in Law (BA LAW), National University of Lesotho

Professional Role: Mrs Regina ‘Matšepo Kulehile has extensive experience in academia and legal practice, primarily at the National University of Lesotho. Since January 2018, she  served as a Lecturer at Law, teaching courses such as Law of Contract, Law of Property, and Electronic Transactions Law at both undergraduate and postgraduate levels. She also supervises dissertations for both LL.B and LL.M students. Additionally, she has held the position of Head of the Public Law Department since August 2018, she is responsible for setting and advancing the academic strategy of the department, contributing to the Faculty Executive Board, and ensuring staff development. In addition her current roles, she has intermittently served as Acting Dean of the Faculty of Law, managing student admissions, overseeing academic administration, and assisting with day-to-day administrative matters. Her earlier academic roles include lecturing in Criminal Law, Law of Property, Labour Law, and Special Contracts, as well as supervising dissertations and publishing research. She also has practical legal experience from her time as a Legal Practitioner at MD Chambers and V.V.M. Kotelo & Co.

Mr. N. Rantsane

Board Secretariat

Qualifications: Bachelor of Arts in Law, National University of Lesotho, Bachelor of Laws (LLB), National University of Lesotho, PG. Diploma in Labour law, Congregation of Universities of Lesotho, Namibia and Cape Town, Master of Laws (LLM), University of the Witwatersrand.

Professional Roles: Mr Rantsane started his career in the legal practice as a Crown Counsel for the Ministry of Law and Constitutional Affairs and then proceeded to become a Conciliator at the Directorate of Dispute Prevention and Resolution. He tapped into the higher education field as a Lecturer and Legal Advisor at the Centre for Accounting Studies. In addition to his roles, he worked as the Head – Legal Services Division at Central Bank of Lesotho and to date he is the Director of Corporate Affairs at the bank.