Economy of Lesotho Swaziland, Namibia, and South Africa also form a common currency and exchange control area known as the Rand Monetary Area that uses the South African rand as the common currency. In 1980, Lesotho introduced its own currency, the loti (plural: maloti). One hundred lisente equal one loti. The Loti is at par with the rand. Until the political insecurity in September 1998, Lesotho's economy had grown steadily since 1992. The riots, however, destroyed nearly 80% of commercial infrastructure in Maseru and two other major towns in the country, having a disastrous effect on the country's economy. Nonetheless, the country has
Henry Hale Rand Rand started his career at the International Shoe Company (which became Furniture Brands International) in 1929. He joined its Board of Directors in 1945. From 1948 to 1955, he served as its Vice President. Upon the death of his brother, Edgar E. Rand, who had served as President from 1950 to 1955, Rand served as President until 1962. Under his leadership, the company was the world's largest shoe manufacturer. Rand was elected as the President of the Webb School in 1950. Additionally, he served on the Board of Trustees of his alma mater, Vanderbilt University. Rand married Dorothy Bolin. They