Pi­o­neer Mall marks five-year mile­stone

Lesotho Times - - Business - Mo­halenyane Phakela

MASERU-BASED shop­ping com­plex, Pi­o­neer Mall, on Tues­day held a “Cham­pagne Break­fast” in com­mem­o­ra­tion of five years in op­er­a­tion since open­ing in 2009.

At its in­cep­tion, only Phase I of the mall, which is owned by Moruo De­vel­op­ment, was opened. In Novem­ber 2012, share­hold­ers ex­tended the mall to the Phase II stage with the gen­eral pub­lic also able to buy shares.

Ac­cord­ing to Moruo De­vel­op­ment Man­ag­ing Di­rec­tor, An­dre Bothma Pi­o­neer Mall was mark­ing the half a decade of “com­mit­ment, hardwork and suc­cess” at­tained after turn­ing a waste­land into a mall that of­fers Ba­sotho a one stop shop­ping and en­ter­tain­ment plat­form.

“Moruo De­vel­op­ment, hav­ing re­alised the need for hav­ing many shops un­der one roof, de­vel­oped the mall since Ba­sotho had to go to South Africa to do their shop­ping,” said Mr Bothma.

“The mall has not only per­formed beyond every­body’s ex­pec­ta­tions, but has been able to support Ba­sotho through its cor­po­rate so­cial re­spon­si­bil­ity pro­grammes. Pi­o­neer Mall cur­rently has 1 200 share­hold­ers who are due to be in­creased shortly.

“Last year the mall had over six and half mil­lion vis­i­tors which we per­ceive as a great achieve­ment.”

Speak­ing at the same event Trade and In­dus­try, Co­op­er­a­tives and Mar­ket­ing Min­is­ter Sk’hu­lumi Nt­soaole hailed Moruo De­vel­op­ment for fos­ter­ing job cre­ation.

“The lack of proper in­fra­struc­ture in Le­sotho, es­pe­cially of­fice or shop build­ings and rentable space, has been a great chal­lenge to­wards de­vel­op­ment of this coun­try,” Mr Nt­soaole said.

“But since the con­struc­tion and open­ing of Pi­o­neer Mall in 2009, as well as its ex­ten­sion in 2012, we have seen 24 000 square me­tres of space avail­able for let­ting which is 100 per­cent oc­cu­pied.

“The ex­is­tence of Pi­o­neer Mall has con­trib­uted sig­nif­i­cantly to­wards job cre­ation as we have wit­nessed 1 400 per­ma­nent jobs and other in­di­rect em­ploy­ment. There­fore, the gov­ern­ment of Le­sotho re­mains in­debted to Moruo De­vel­op­ment for the job well done.

“The invitation of Ba­sotho to buy shares in the de­vel­op­ment of the mall has also been a great ges­ture, and as time pro­gresses, we shall see Ba­sotho, who con­sti­tute 85 per- cent of the shares, reap the ben­e­fits of their in­vest­ments."

The min­is­ter fur­ther stated the big­gest chal­lenge the na­tion still faces is pro­duc­ing goods that can be sup­plied to the mall for re­sale.

Moruo De­vel­op­ment Man­ag­ing Di­rec­tor An­dre Bothma

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