David Masango
22 June 2007
Lesotho Prime Minister Phakalitha Mosisili told a South Africa-Lesotho business forum in Cape Town this week of the many business opportunities in his country, urging investors to take full advantage of them.
Addressing business and government representatives from South Africa and Lesotho, Phakalitha and SA Deputy President Phumzile Mlambo-Ngcuka identified business opportunities each country could pursue within the other's borders.
In particular, Mlambo-Ngckua highlighted opportunities for the Mountain Kingdom during the 2010 Fifa World Cup, including power generation from the second phase of the Katse dam, the Sani Pass trans-frontier project and a proposed rail link between the Northern Cape and KwaZulu-Natal passing through Lesotho.
"Investment opportunities also abound in areas such as tourism, ski resorts, hotel accommodation and clothing manufacturing," SA's Presidency said in a statement.
The forum was told that Lesotho could also be a prime source for high quality sandstone in order to meet the requirements of South Africa's booming construction industry.
For its part, the Lesotho government is aiming to attract increased investment through using tax-breaks and other incentives.
According to the Presidency, the Development Bank of Southern Africa is planning to provide more funding to private enterprises in Lesotho.
Trade between Lesotho and South Africa is currently heavily skewed in South Africa's favour. Lesotho imports some 86% of its goods from South Africa, while its exports to SA are mainly in the form of water from the Katse Dam.
SA's Department of Trade and lndustry will be hosting a small business opportunity conference in Lesotho in the near future, aimed at helping small business on both sides of the SA-Lesotho border.
Source: BuaNews
