𝐏𝐀𝐂 𝐆𝐑𝐈𝐋𝐋𝐒 𝐊𝐎𝐁𝐄𝐋𝐈 𝐎𝐕𝐄𝐑 𝐃𝐔𝐁𝐈𝐎𝐔𝐒 𝟏𝟎,𝟎𝟎𝟎 𝐒𝐇𝐀𝐑𝐄𝐒 𝐈𝐍 𝐃𝐔𝐓𝐘 𝐅𝐑𝐄𝐄 𝐒𝐎𝐔𝐑𝐂𝐈𝐍𝐆 𝐈𝐧𝐜.

MASERU-Teboho Kobeli, a major shareholder in Duty Free Sourcing Inc., failed to convince the Public Accounts Committee (PAC) on Wednesday how he acquired 10,000 shares in the company.

Kobeli appeared before the committee to respond to questions regarding the M6.5 million that Duty Free Sourcing Inc. owes the Lesotho National Development Corporation (LNDC).

He told the committeee that he bought the shares between last year and early this year but could not recall or even estimate the amount he paid for them. Kobeli explained that his motivation for investing in the company was to create job opportunities for Basotho, adding that having a Free on Board (FOB) facility in Lesotho would be a major step, since most industrial companies in the country have their FOB operations abroad.

However, PAC Chairperson Machabana Lemphane-Letsie expressed skepticism, saying it appeared Kobeli acquired the shares to abuse his position as chairperson of Revolution for Prosperity, and protect Duty Free Sourcing Inc. from settling its debt with LNDC.

Supporting her view, committee member Lephoi Makara suggested that Kobeli might not have purchased the shares at all but rather received them. He pointed out that shortly after acquiring them, Kobeli wrote a strongly worded letter to LNDC advising the corporation not to involve a mediator in the matter and insisting the company would pay when ready.