Lesotho Prime Minister Invites Nigerian Investors Amid Xenophobia

On Wednesday, during the Nigeria-Lesotho B2B Business Meeting in Abuja, Sam Matekane, the Prime Minister of the Kingdom of Lesotho, called on Nigerian investors to move their businesses from South Africa to Lesotho. This appeal was made in light of recent xenophobic attacks against Nigerians and other migrants in South Africa, which resulted in violence and destruction of businesses.

Matekane emphasized Lesotho's commitment to economic transformation, focusing on industrialization, infrastructure, and opportunities for women and youth. He highlighted the country's strategic advantages, including abundant water resources, renewable energy potential, and a young workforce, making it an attractive investment destination in sectors such as manufacturing, construction, digital technologies, tourism, and renewable energy.

He also underscored the importance of the African Continental Free Trade Area in enhancing intra-African trade and regional value chains, aiming to foster new relationships and deepen existing partnerships to create a stable and predictable environment for investors.