Investors pledge to improve Lesotho

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Investors pledge to improve Lesotho
Investors pledge to improve Lesotho

Africa-PressLesotho. International Trade Forum (ITF) held a seminar for international traders who signed contacts to inject developments in Lesotho districts affected by drought, particularly Mohale’s Hoek.

Trade and Industry Director Mary Motebang described inclusive growth as a strategy that enables economic development. She said the government is promoting shared prosperity through the recently adopted

implementation of the National Strategic Development Plan II, which acknowledges the importance of private investors in uplifting Lesotho’s economy. Beyond that

the government has pledged to play a supportive facilitating role to investors who wish to help build projects towards nurturing the Basotho people. Moreover

Motebang stated that the Trade Ministry has embarked on a number of initiatives which will make it easy for domestic and foreign investors commence their

businesses in the country. “The ministry has developed the investment, competition and industry policy which will enable Lesotho to be competitive in the trading sector,” she said.

She however added the policy will be reviewed to accommodate developments affecting industrialization. Mohale’s Hoek District Administrator Lira Adams informed stakeholders at the

meeting that the district has roughly over 50,000 population of which majority remains unemployed women and youths. Adams noted Mohale’s Hoek is faced with social and

economic challenges that include poverty, droughts and low infrastructure developments. “Therefore Mohale’s Hoek is a great potential place to invest in despite the current challenges,” he added.

Vintage Energy Director Jan Du Preez said they are going to ‘supply solar electricity to over 20, 000 people in Mohale’s Hoek. ’ He said the project will cost M850 million.

Xultan Construction General Manager Pieter Du Preez, who is also part of the investors panel, said they will work on a housing project in Mohale’s Hoek.

“We will also work on improving labour source especially for the youth,” he added. On the other hand AJPH Property Executive Thami Malunga from said he and his team will build a taxi rank and other infrastructures involving local retailers.

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