Chapter five: Corporate governance Figure 5.2: Protecting investors Source: World Bank Doing Business Survey 2009. 532. Note: The higher the score, the greater the investor protection. 533. Enforcing contracts. Where contracts are efficiently enforced, businesses are more likely to engage with new borrowers or customers. “Doing Business Survey 2009” tracks the efficiency of the judicial system in Lesotho in resolving a commercial dispute. It follows a step-by-step evaluation of commercial sale disputes before local courts. The data are collected through studies of the codes of civil procedure and other court regulations, as well as through surveys completed by local litigation lawyers. Table 5.5 shows Lesotho’s position, in enforcing contracts, among the 181 economies surveyed. Table 5.5: Enforcing contracts Enforcing contracts Doing business 2007 Doing business 2008 Doing business 2009 Rank … 106 104 Procedure (number) 41 41 41 695 695 695 Duration (days) Source: World Bank Doing Business Survey 2009. 148 The most problematic factors in doing business 534. According to the findings of the “Global Competitiveness Report, 2008–2009”, the most problematic factors in doing business in Lesotho are access to finance, inefficient government bureaucracy, inadequate supply of infrastructure, and corruption.

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