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| Company Profile The Lesotho National Development Corporation (LNDC) is the Government of Lesotho's main parastatal agency for implementing the country's industrial development policies. The Corporation was established by an Act of Parliament known as Act No. 20 of 1967. It was amended as Order No. 13 of 1990 and again as Amendment Act No. 7 of 2000 which became effective on 25th October, 2000. The new Act has not changed the mandate of LNDC which states that: "The mandate of the Corporation is to initiate, promote and facilitate the development of manufacturing and processing industries, mining and commerce in a manner calculated to raise the level of income and employment in Lesotho." The role of the Corporation is to promote Lesotho as an attractive investment location for both foreign and indigenous investors. Until 1985, LNDC was wholly owned by the Government of Lesotho. The ownership structure has now changed to 90% by the Lesotho Government and 10% by the German Finance Company for Investments in Developing Countries (DEG). The Corporation is headed by a Chief Executive and falls under the Ministry of Industry, Trade and Marketing which is responsible for providing overall policy direction on industrialisation.
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