1. Integrated Financial Management Information System (IFMIS)

    To provide an integrated computerized financial package to the effectiveness and transparency of public resource management by computerizing the budget management and accounting system for government.

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  2. Upgrading of Payroll and Human Resource Information System

    Upgrade of current UniQue payroll to ResourceLink Human Resource/Payroll integrated system. All HR offices will be connected to the central database at Ministry of Finance data centre to maintain Human Resources related information.

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  3. Assistance to Lesotho Institute of Accounts

    The project focusses on the review and development of the teaching and learning materials for accounting studies, as well as capacity building for Center for Accounting Studies (CAS) and Lesotho Institute of Accountants (LIA)

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  4. Public Financial Management Reforms
  5. Partial Credit Guarantee Fund (PCGF)
    Background:
    • The Parliament of Lesotho allocated M50 Million to the Ministry of Finance and Development Planning in 2011/2012 to establish PCGF.
    • PCGF was established to support SMMEs that are credit worthy but do not have adequate collateral security to obtain loans from the Commercial Banks. The government of Lesotho took this initiative to liberate SMMEs from the burdensome of the limited access to finance by the private sector.
    • Ministry of Finance concluded the negotiations and signed the Memorandum of Understanding (MOU) with First National Bank, Standard Lesotho Bank, Lesotho PostBank and NedBank on PCGF.
    • The Credit is provided by the participating Banks on the viable/bankable projects while PCGF provide partial collateral security.
    • The economic importance of the SMMEs sector and its substantial contribution to employment and economic growth are evident across the world.
    Policy guidelines:
    • The Applicants must submit their Eligible/Bankable projects directly to the participating commercial Banks.
    • The participating Banks provide their unqualified approval to PCGF for guarantee certificate.
    • PCGF may conduct its own due diligence depending on the level of risk.The turnaround time is now 1 day.
    • The loan amount applied for will not be used for the purpose of which is not intended for.
    • PCGF provide the guarantee on all the development and priority sectors under the National Strategic Development Plan.
    • The Fund provides 50/50 guarantee coverage for existing business and 70/30 guarantee coverage for start-ups on the final loss.
    • The loan amount to be guaranteed is not supposed to exceed M5 Million and there is no lower limit.
    • PCGF does not provide grants.
    • PCGF does not charge the Applicants any fees.

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  6. Rural Financial Intermediation Programme

    • To alleviate poverty increase income and contribute towards economic growth in Lesotho.
    • To create access of economically active rural poor to financial services on a sustainable basis.
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