Maloti Minnow Policy and Action Plan                                      

Annexure 1

The Lesotho Biodiversity Trust

The LHDA will transfer and donate an amount of around M8 million for the establishment of the Lesotho Biodiversity Trust in accordance with standard legal procedure for the creation of such a Trust in Lesotho (see Annexure 3 for the wording of an illustrative Trust Deed).

A number of Trustees will be appointed in addition to the original Donor and Trustee. Trustees will be selected on the basis of their good standing in society, their credentials and integrity, and for their specialised skills in the financial, business, technical and management areas. Strict codes of conduct and governance will be required of Trustees, and impeccable financial management will be ensured through the appointment of independent auditors. A financial advisory committee will be appointed, comprising both Trustees and independent experts, to manage the finances of the Trust for growth, and to seek donations, grants and other income to enhance the operational capacity of the Trust.

The Trustees will elect a Management Committee, with a Chairperson and Honorary Treasurer, to manage the day to day affairs of the Trust. The Trustees will appoint a Scientific Advisory Committee to provide input on technical matters, and to screen projects before any funds are committed. The Trustees will have the discretion to appoint staff, consultants and project executants as they see fit.