Lesotho: LEC Bankrupt – allAfrica.com

…It has no funds to import electricity posing a severe risk to consumers and the economy

THE Lesotho Electricity Company (LEC) is in a severe financial crisis, with its current liabilities exceeding its assets by M98.6 million.

As a result, the utility company is unable to purchase electricity for distribution to consumers.

This according to an external audit report submitted to the Ministry of Energy in January 2025. The report revealed that LEC cash reserves had declined by M145.8 million.

The…