RSA, October 1, 2025 — The Petroleum Fund’s Board of Directors convened a strategic training retreat in the Republic of South Africa to strengthen its oversight responsibilities, enhance institutional capacity, and ensure the alignment of the Fund’s mandate with emerging national and global priorities.

The retreat, which convened members of the Board and the Fund’s executive leadership, concentrated on promoting effective governance, enhancing leadership dynamics, and ensuring that the Fund maintains operations characterised by integrity, transparency, and strategic foresight. It functioned as a vital forum for reflection, knowledge exchange, and the formulation of actionable insights to inform future decision-making.

Key discussions during the retreat encompassed board performance evaluation, risk management frameworks, and the incorporation of post-evaluation lessons into the Fund’s operational and strategic outlook. Participants analysed how effective board oversight not only fosters the Fund’s institutional success but also advances Lesotho’s broader national development objectives.

The Board also examined emerging trends in leadership effectiveness and corporate governance, highlighting the significance of agility, innovation, and accountability in guiding the organisation towards sustainable economic growth. Particular emphasis was placed on aligning the Fund’s strategies with regional and global energy transitions and principles of sustainable investment.

By fortifying its governance structures, the Board reaffirmed its dedication to advancing the Petroleum Fund’s mission of fostering efficiency, transparency, and sustainable development in Lesotho’s petroleum industry. The retreat ended with a strengthened sense of purpose and a unified commitment to establishing the Fund as a paradigm of exemplary corporate governance within the region.