STANDARD Bank at the weekend signed an agreement with the Lesotho government in terms of which the bank acquires 70% share holding of the Lesotho Bank. The agreements were signed by the regional director of Stanbic Africa, Bob Norval, and the director of the privatisation unit of the Lesotho government, Mothusi Mashologu. Speaking at the signing ceremony Mashologu said the agreement will contribute to the growth and welfare of Lesotho. The Standard Bank has contributed R50-million and Lesotho government R15-million towards the privatisation of the Lesotho bank. The privatisation came after many years of serious losses by the bank.