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Bokang Moeko

“Saving and investing money is like training for the Comrades Marathon. You can’t start the training for the race a couple of weeks before the event. It takes months, if not years, to get a hundred percent fit for the race.” – Unknown.

The same goes for your money. The most successful savers are those people who have made saving a part of their life – part of their mindset.

A few number have that mindset, I guess that is why it’s rare to find people who have an emergency kitty, even though the list of emergencies is virtually endless, (you are advised to have between three and six month’s salary in some accessible form).

Frankly speaking, if you don’t have an emergency kitty you are skating on a thin ice especially now that we are on the grip of ‘cost-push’ inflation (mounting costs of producing goods and services are ‘pushing’ up prices) and the rand might plummet to R30 to the dollar in December.

But whenever the subject of saving and investment is brought up people recoil instinctively before they come up with frivolous justification for their inability to save. If you believe I am being unfair, take a closer look at your spending pattern!

To save you need to be disciplined, you need to stop being hopelessly attracted to the shiny and the showy with no regard for your actual life.

Don’t get me wrong, I am not perfect, I am somewhat a victim as well and have often found out I do all that because I have no self-esteem. If I looked a certain way I would be more confident – I fully understand why in India, nearly two-thirds of dermatological products are for skin bleaching, and in Nigeria 77 percent of women use skin lightening creams.

I don’t have a smaller nose. I have a naturally kinky hair and too many times, I cringed at my reflection and thought, “Why am I so ugly?”

I tried to fix what I thought was wrong with me until I realised that the ideal of beauty I saw in magazines or the movies wasn’t made for me at all. But it took courage not to succumb to temptation of not being part of the inner circle – it still does.

Simply put, too many people spend money, a lot of money, on things they don’t actually need, to impress people they don’t know or like.

My best kept secret: every time I am about to buy a beauty product I do not necessarily need I remind myself that the beauty industry gains a lot from convincing us that we’re too flat chested, or fat, or we don’t have clear enough skin – anything to say we’re not good enough so we need to buy something to improve our appearance. So is every industry!

I don’t suffer from delusions of grandeur. I don’t see myself as a solitary force of order amidst the chaos all I do is state observable facts: You are imperfectly perfect; you don’t need to drive cars that are not mainstream to be powerful; and there is absolutely nothing wrong with Scandinavian Style.

When you start to love yourself and live “your” life, you are able to simplify your lifestyle and save. When you stop subscribing to falsehoods you subscribe to, it becomes easy to save. (I taught a young man long ago to live his life based on a foundation of self-love, confidence and prosperity. He listened and has a saving plan I wish I could have).

Know your strengths. Create ‘me time’ in your life: drop deeper and deeper into yourself into the truth within – much wisdom, self-love, and humility will be unearthed. Categorically speaking, that’s all you need to change your life. That’s all you need to start a saving plan.

You are way more than a persona carefully created to increase your likeability – don’t waste your money creating that persona, save it and make it work for you!

Remember: You didn’t make it today to wonder: What do people think of me? This question destroys dreams, erodes self-esteem and paves the way for some of the unhappiest people in the world and dig themselves into financial trouble.

Costs are ever- rising due to a number of factors: salary and wage demands that do not match increases in productivity and imported inflation as a result of an ever changing rand exchange rate. You then need to spend some time thinking, don’t go shopping, figure out what you need and stop there.

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LEC to switch off households over debts



MASERU – The Lesotho Electricity Company (LEC) will from Tuesday next week begin switching off clients who owe it money.

The LEC issued a seven-day ultimatum to all customers who owe it on Tuesday last week. The deadline ends on Monday.

It is expected that the LEC will begin switching off households that have defaulted.

The state-owned power company, however, is not going to touch any government department or business entities that owe it on grounds that they are in payment negotiations.

The LEC move comes barely two weeks after it cut electricity supplies to the Water and Sewerage Company (WASCO) thus causing it to fail to pump water to communities countrywide for more than two days.

The LEC says it is owed close to M200 million by government departments, businesses and individuals.

The LEC spokesman, Tšepang Ledia, told thepost that the government and the businesses will not have their electricity cut because they are in negotiations.

“We are in negotiations with the government and businesses and hopefully they will pay,” Ledia said.

“We advise the ordinary people to pay their debts before the 20th of March 2023 or else we cut the services,” he said.

The LEC says it is running short of funds for its daily operations.

In December last year the company increased power tariffs by 7.9 percent on both energy and maximum demand charges across all customer categories for the Financial Year 2022/23.

Last week the LEC boss, Mohato Seleke, said postpaid consumers and sundry debtors owe the company M169.4 million.

He said unless the debtors pay he will be unable to buy electricity from ’Muela Hydropower Project, Eskom in South Africa and Mozambique’s EDM.

This, he said, could cause serious load shedding in the country and could be devastating for businesses.

Seleke said the LEC spends M630 million monthly to buy electricity.

“If postpaid consumers do not settle their debts this could prevent the LEC from being able to buy electricity which can lead the country to encounter load-shedding,” Seleke said.

Seleke said collecting debt from government department ministries was a challenge as there is an understanding that since LEC is a state-owned company, it will continue supplying government agencies with electricity and they will settle their bills when they have funds to do so.

Seleke said the LEC has lost M21 million to vandalism during this financial year.

Relebohile Tšepe

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Bumper payout for former mineworkers



MASERU – AT least 11 316 current as well as former mine workers are set for a bumper payout after Tshiamiso Trust began disbursing the first billion Maloti to workers who are suffering from silicosis and tuberculosis.

The payment comes two years after Tshiamiso Trust began processing claims for the historical M5 billion settlement agreement between mineworkers and six gold mines in South Africa.

Speaking at the payment announcement in Maseru last week, the Trust’s CEO, Lusanda Jiya, said it has been two years since they officially began accepting claims.

“Our people come to work every day with the mission of impacting lives for the better, and the first billion rand paid out to over 11 000 families is just the beginning,” Jiya said.

“We know that there is no compensation that will ever be enough to undo the suffering endured by mine workers and their families,” he said.

“However, we are committed to deliver our mandate and ensure that every family that is eligible for compensation receives it.”

Jiya said the Trust is limited both in terms of the time in which they can operate, and the extent to which they can assist those seeking compensation.

Broadly speaking, the eligibility criteria include among others that the mineworker must have worked at one of the qualifying gold mines between March 12, 1965 and December 10, 2019.

Secondly, living mineworkers must have permanent lung damage from silicosis or TB and deceased mine workers representatives must have evidence that proves that they (the deceased) died from TB or Silicosis.

Tshiamiso Trust has a lifespan of 12 years, ending in February 2031.

Over 111 000 claims have been received to date, through offices in South Africa, Lesotho, Botswana, eSwatini, and Mozambique.

The Trust is working with stakeholders in these countries and others to mobilise its efforts and expand operations.

The history of silicosis in South Africa goes back to the late 1880’s when the first gold mines began operations.

The gold was stored and locked in quartz, a special rock that contains large amounts of silica.

Crystallised silica particles can cause serious respiratory damage if inhaled.

In the earlier days of gold mining, dust control, health and safety standards and the use of PPE (personal protective equipment) were not as advanced as they are today.

Tshiamiso Trust was established in 2020 to give effect to the settlement agreement reached between six mining companies.

The companies are African Rainbow Minerals, Anglo American South Africa, AngloGold Ashanti, Harmony Gold, Sibanye Stillwater and Gold Fields.

The settlement agreement was reached and made after a ruling by the Johannesburg High Court as a result of a historic class action by former and current mineworkers against the six gold mines.

Justice for Miners is a coalition of interested parties in the mining sector launched at the Nelson Mandela Foundation in Johannesburg in 2020.

The Johannesburg High Court approved the setting up of the Tshiamiso Trust to facilitate payment by the companies to affected miners.

Keith Chapatarongo

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Farmers cry over cost of livestock feed



MASERU – Lehlohonolo Mokhethi is a farmer who has been running a successful poultry business, thanks to a small loan he got from a local bank.

He now has 300 chickens.

He says his vision is to rear 5 000 chickens by 2025 and employ 30 youths. But he is now grappling with a new challenge: the ever increasing cost of chicken feed.

That is threatening the viability of his business.

“The biggest challenge is that food prices increase every day, feeding is expensive,” Mokhethi said.

“It is quite difficult to make profit in business if each and every day food prices increase. Today I am buying a bag of food with a certain amount then the next day the price has increased,” he says.

“Our customers fail dismally to understand that food has increased and the Chinese are taking our market because they sell at a low price thus I run at a loss.”

Last week, a top attorney in Maseru who is also a prominent farmer, Tiisetso Sello-Mafatle, called a meeting for farmers to discuss these challenges.

She says the government must regulate the prices of livestock feed.

That is critical if the farming business is to succeed, she says.

Attorney Sello-Mafatle says farmers must come up with a structure for livestock feed prices which they would present to the government for gazetting.

“We should state our regulations and give them to the government to make everything easy for both parties because we cannot wait for the government to make regulations for us,” Sello-Mafatle says.

She adds that “farmers should be bullish about what they want and never have fear endorsing new things”.

“I will not be challenged or cry (because of) what life throws at me but I will cry when things are not happening the right way,” she says.

Mafatle says farmers need to know who they are and know the capabilities they have.

“This will help a farmer in becoming the best in any field they are in once they are confident about themselves,” she says.

Karabo Lijo, another participant, said they have to influence the cost of inputs in agriculture, especially livestock feed.

“We have to go back to cost-price analysis where as farmers we are able to derive the selling price and the break-even point in our production,” Lijo said.

“We can also derive the stable or constant mark-ups on our products,” he said.

“We need to do research to increase the ability to produce byproducts which are likely to have the longest shelve life,” he said.

The meeting urged farmers to diversify their products by introducing such things as mushroom farming. They said mushrooms can grow very well in Lesotho due to its favourable climate.

The farmers also demanded that there should be regulations on how land can be sold or borrowed in Lesotho.

Tholoana Lesenya and Alice Samuel

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