Government delegation unveils Lesotho’s investment opportunities in New York

Lesotho’s government delegation recently unveiled the kingdom’s investment opportunities during a high-level engagement in New York, signalling a strategic push for foreign direct investment. This event underscores the nation’s focus on sustainable growth amid economic challenges like floods and high unemployment.

Organized by Lesotho’s Permanent Mission to the United Nations, the May 2026 meeting drew international investors from energy, digital infrastructure, mining, and minerals sectors. Led by Ambassador Matete ‘Nena, the delegation included Minister of Information, Communications, Science, Technology and Innovation Nthati Moorosi; Minister of Labour and Employment Ts’eliso Mokhosi; and Principal Secretary Kanono Ramashamole. CEO of the Lesotho National Development Corporation (LNDC), Thabo Khasipe, presented key opportunities and strategic priorities, followed by a Q&A on infrastructure, partnerships, and future collaborations.

Energy emerged as a priority, with emphasis on renewable sources like hydropower from the Lesotho Highlands Water Project (LHWP), which supplies water and electricity regionally. Digital infrastructure pitches tapped into Lesotho’s recent $24 million allocation for connectivity enhancements, positioning it for tech investments. Mining spotlighted diamonds, uranium, and industrial minerals, building on established players like Gem Diamonds and Lucapa. Labour reforms were touted to attract manufacturing, leveraging Lesotho’s African Growth and Opportunity Act (AGOA) access to U.S. markets.

Timed ahead of the 81st UN General Assembly session, the outreach aligns with Lesotho’s National Strategic Development Plan 2023/24-2027/28, targeting 5.1% GDP growth. It echoes prior PM Matekane’s 2023 New York pitches on agriculture, renewables, and tech, which secured Green Climate Fund interest. Recent diaspora engagements, like the 2025 Independence Day event hosted by Ambassador Nnena, amplify networks.

Lesotho’s economy, 40% remittances-dependent and vulnerable to South Africa’s slowdowns, needs FDI to offset 2026 floods’ $10-20 million damages. Unemployment hovers at 23.5%, youth at 35%; investments could create 10,000 jobs in textiles and agro-processing alone. LNDC reports 15 projects worth M450 million approved last year, signalling momentum.

Delegates emphasized geopolitical stability post-2022 elections, English proficiency, and low corporate tax (25%, incentives to 10%). Unique assets include 80% renewable energy potential and strategic SADC location. Investors probed ease of business, leading to commitments for follow-ups.

Queries tackled infrastructure gaps, like Polihali dam social impacts and flood vulnerabilities, with assurances of LHWP treaty reviews. Corruption perceptions (score 45/100) were countered by judicial reforms. Diaspora fund hosting proposals aim to channel $1 billion African remittances.