from TSOANELO MOKHAHLANE in Maseru, Lesotho
Lesotho Bureau
MASERU, (CAJ News) – THE African Development Bank Group (AfDB) plans to invest US$331 million in key strategic sectors in Lesotho.
This is part of its proposed Country Strategy Paper for 2025-2030, to boost economic growth and industrial competitiveness.
AfDB President, Akinwumi Adesina, met with King Letsie III to discuss strengthening development partnerships and expanding the Bank’s investments in the country.
“With haste, we will ensure that the policies and incentives to accommodate the needs of and attract the private sector are in place, especially in healthcare, agriculture, and manufacturing,” the King remarked.
Referencing dwindling donor commitments globally, Adesina said, “Africa must prepare to engage more proactively with the private sector. Every challenge is an investor’s dream. Ultimately, capital, like water, will always find a receptive place to go.”
AfDB has implemented 87 projects totaling $429 million since Lesotho joined the bank in 1973.
“We have eight ongoing projects worth $60 million, and we look forward to significantly expanding our commitments,” Adesina said.
The bank’s investment strategy for Lesotho will focus on energy infrastructure, agricultural development, digital transformation, climate resilience and water resource management, among others.
– CAJ News