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M19 billion investments for job creation

Prime Minister Motsoahae Thabane

Aug. 22, 2019 2 min read

MASERU – Over 30 000 Basotho youths stand to gain employment when a government’s strategic plan for M19.9 billion-worth of private investment projects kicks off by the financial year 2022/23.

According to the Minister of Development Planning, Tlohelang Aumane, the target was the outcome of the Lesotho Economic Labs that were held for 10 weeks between February and April with participation of over 399 project owners. The labs were initiated to meet the objectives of key priority under the National Strategic Development Plan (NSDP). NSDP carries an obligation to promote inclusive and sustainable economic growth and to generate employment via the private sector.

The aim of these labs was to ascertain the strategic direction for each sector by assessing the industry landscape, its challenges and opportunities, as well as identifying prioritised initiatives that will enable and promote growth in these sectors, thus unlocking investments and creating employment.

Stakeholders from the public and private sectors were mandated to mobilise investments into four prioritised sectors of agriculture, manufacturing; technology, and innovation; and tourism and creative industries.

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Mr Aumane said: “Every project will be implemented and monitored under a ministerial delivery unit that will be established under all ministries involved, who will report directly to the Prime Minister’s office. In this way, every minister will be accountable for the progress of each project in meeting their targets.”

Speaking at the Job and Investment Summit that was held in Maseru yesterday, Prime Minister Thomas Thabane said the economic labs had identified detailed implementation plans to unlock the potential of the four productive sectors. The sectors Mr Thabane said included over 70 priority projects across 27 entry points comprising 22 projects across seven entry points. 

He said they would also comprise two special projects for the agriculture sector, designed to unlock M3.9 billion worth of private investments and create 12 158 jobs.

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