… Workers left in the dark
Mamoth Health was this week evicted from its rented offices at Ha Hoohlo, Maseru, allegedly over unpaid rentals, deepening the crisis engulfing the controversial medical aid provider.
Staff members who spoke to Newsday on condition of anonymity said management has yet to communicate with them about the latest developments.
A notice pinned to the gate reads: “Notice to all healthcare professionals. The Board of Healthcare Funders has been informed of the closure of Mamoth Health. To ensure continued support and services, all Practice Code Numbering System (PCNS) Applications will now be handled by our partners, Metropolitan Health, and Vitality Health… We regret any inconvenience and thank you for your understanding.”
Shocked workers said this was the first time they were hearing of the closure.
“So, they decided to close without informing us, after refusing to retrench us so that we could not access credit life benefits from the banks,” one said.
Efforts to get a comment from acting CEO Smangela Molumeli were unsuccessful as her phone rang unanswered.
The eviction marks a dramatic turn in a saga already raising alarm over possible regulatory failure. Earlier this month, Newsday reported that the Central Bank of Lesotho (CBL) refused to answer direct questions about apparent violations of the law by Mamoth Health and its parent, Zenith Horizon Insurance.
Despite lacking a CBL licence, Mamoth has long been collecting public contributions, a practice outlawed under Section 11(4) of the Financial Institutions Act, 2012.
Meanwhile, , licensed and regulated by CBL, reportedly owns about 70 percent of Mamoth, in clear tension with Section 28(14) of the Act, which bars financial institutions from holding shares in other undertakings without explicit approval.
CBL has stonewalled repeated queries, insisting it is “prohibited by law” from commenting on regulated entities. Its silence has only fuelled suspicion that crime is unfolding in plain sight, under the very institution tasked with stopping it.
Insiders allege Zenith’s 2023–2024 takeover of Mamoth hastened its collapse rather than rescuing it. Staff went unpaid for months, some resigned to access pensions, others saw accounts frozen or property threatened.
Allegations of conflicts of interest and collusion with another medical aid scheme have further clouded the affair.
Summary
- Earlier this month, Newsday reported that the Central Bank of Lesotho (CBL) refused to answer direct questions about apparent violations of the law by Mamoth Health and its parent, Zenith Horizon Insurance.
- Despite lacking a CBL licence, Mamoth has long been collecting public contributions, a practice outlawed under Section 11(4) of the Financial Institutions Act, 2012.
- Meanwhile, , licensed and regulated by CBL, reportedly owns about 70 percent of Mamoth, in clear tension with Section 28(14) of the Act, which bars financial institutions from holding shares in other undertakings without explicit approval.
Authored by our expert team of writers and editors, with thorough research.
