Lesotho: Shelile Speaks On M1 Billion CGM Fraud

MINISTER of Trade, Industry, and Business Development, Mokhethi Shelile, has lauded the reopening of textile giant CGM Group and its subsidiary, Presitex Enterprises, after they were defrauded of nearly M1 billion by former employees.

Mr Shelile said CGM Group is currently rehiring 350 Basotho as it relaunches production.

The two Thetsane-based textile producers were once among the country’s largest employers, with a workforce exceeding 10 000. This success was disrupted when former CGM and…