Africa-Press – Lesotho. The development and transformation of the Drakensberg–Maluti Highway is being touted as a key intervention to boost business activity and unlock economic opportunities between Lesotho and South Africa.
This emerged during the launch of the Lesotho–South Africa Business Council, a partnership between the Private Sector Foundation Lesotho (PSFL) and the Black Business Council (BBC), held in Maseru on Tuesday.
Speaking during a panel discussion on financing trade corridors, streamlining cross-border finance and improving capital flows, the Chief Executive Officer of the Lesotho National Development Corporation (LNDC), Mr. Thabo Khasipe, said Lesotho’s unique position as a country surrounded by South Africa requires it to build a more self-sustaining economy.
He said the transformation of the Drakensberg–Maluti Highway is one of the strategic steps toward achieving this.
Mr. Khasipe noted that an upgraded highway would significantly cut both travel time and transport costs for the business community, particularly those transporting goods between Lesotho and South Africa and route to the port of Durban.
Echoing the same sentiments, the Vice President of the Black Business Council, Mr. Gregory Mofokeng, stressed the importance of the private sector taking the lead in mobilising resources to ensure the effective implementation of initiatives aimed at activating trade corridors for the economic benefit of both countries.
At this event, borders were explained as hubs for revenue generation and job creation which were therefore urged to be developed towards strategic cooperation for both countries on specific trade and business sectors.
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