The Forum on China-Africa Cooperation (FOCAC) is an influential platform for advancing China-Africa relations. Launched in 2000, FOCAC serves as a dynamic framework for dialogue, economic cooperation, and cultural exchange between China and African nations. Over the years, it has fostered significant partnerships that have led to the development of infrastructure, technology transfer, and human capacity across the continent. Through this collaboration, African countries, including Lesotho, have seen substantial investment in key sectors such as agriculture, manufacturing, and energy.
In alignment with the FOCAC objectives, the Lesotho National Development Corporation (LNDC) hosted a successful investment forum in Qingdao, Shandong province, China, on the 7th of September, 2024. This event, which showcased Lesotho’s thriving potential across various sectors, marks a significant milestone in strengthening the nation’s global economic ties.
LNDC Interim Chief Executive Officer, Molise Ramaili (pictured below) led the LNDC and Basotho private sector players to showcase what Lesotho has to offer.
The forum, led by Prime Minister Rt. Hon. Sam Matekane, alongside key government officials, including the Minister of Finance and Development Planning and the Minister of Public Works and Transport, presented an impressive portfolio of investment opportunities to the Shandong business community. The sectors highlighted ranged from renewable energy, manufacturing, agriculture, to agro-processing, with the goal of attracting sustainable investments that would spur economic growth and create jobs for Basotho.
Promoting Lesotho’s Economic Potential
The forum’s setting in Qingdao, a bustling economic hub in China’s Shandong province, provided a perfect platform for fostering partnerships with Chinese investors. Lesotho’s private sector was well-represented, and the interaction between local and Chinese business representatives facilitated fruitful discussions, fostering mutual interest in long-term investments.
The forum’s objective was not only to present investment opportunities but also to establish enduring partnerships that would benefit both Lesotho and China. With China being a strategic partner, Lesotho seeks to leverage its relationship with Chinese investors to develop sustainable industries, focusing on renewable energy and agro-processing, which are essential for improving food security and energy independence in the region.
Lesotho’s Prime Minister’s Vision for Modernization
In his speech at the forum, Prime Minister Rt. Hon. Sam Matekane commended the Government of the People’s Republic of China for its continuous support through FOCAC. He emphasized the importance of the exchange of experiences on governance and modernization, noting that such cooperation has helped Lesotho make strides in key areas such as infrastructure development and economic reform.
Prime Minister Matekane took the opportunity to acknowledge the critical role that China plays in advancing South-South Cooperation. He underscored the importance of each country developing its own model of modernization based on its unique national conditions—a principle China has consistently championed through its cooperation with African countries. The Prime Minister applauded the high-level exchanges that have taken place between Lesotho and China, which have deepened political trust and strengthened bilateral ties.
Growing Cooperation for a Prosperous Future
The Prime Minister’s speech also highlighted the various technical cooperation agreements that have been signed between Lesotho and China. These agreements include grant aid and interest-free loans aimed at boosting Lesotho’s development efforts. The agreements will further help to improve service delivery, particularly in the public sector, by enhancing the skills of government officials through China’s long-term training programs.
These technical agreements are essential in fostering governance reforms and modernizing service delivery, ensuring that Lesotho’s development keeps pace with global trends. Furthermore, the Prime Minister reaffirmed that Lesotho is committed to exploring new ways of cooperation with China to drive innovation and industrialization in the country.
LNDC’s Role in Driving Investment
The LNDC has been at the forefront of promoting investment in Lesotho, playing a pivotal role in marketing the country’s economic opportunities to global investors. Through events like the Qingdao investment forum, LNDC continues to foster an environment that encourages international partnerships. The corporation’s efforts to attract foreign direct investment, particularly from China, are crucial in driving the country’s agenda for economic transformation.
Vodacom Lesotho Chief Executive Officer, Mohale Ralebitso (pictured below) formed part Basotho sector delegation.
The investment forum demonstrated LNDC’s commitment to showcasing Lesotho’s competitive advantages in various sectors, from its renewable energy potential to its skilled labor force. With a clear vision and solid partnerships, LNDC is working tirelessly to ensure that Lesotho becomes a preferred investment destination in Southern Africa.
A Bright Future for Lesotho-China Relations
The Qingdao forum was a resounding success, underscoring the growing partnership between Lesotho and China. Through the platform provided by FOCAC and with the continued support of LNDC, Lesotho is positioning itself as a key player in the global economy. As the country continues to promote its investment potential, the fruits of these partnerships will undoubtedly contribute to Lesotho’s economic growth, modernization, and improved living standards for its people.
In conclusion, Lesotho’s participation in the 9th FOCAC summit and its subsequent investment forum in Qingdao exemplify the country’s dedication to strengthening its ties with China and advancing its economic agenda. With support from both the private and public sectors, the future looks bright for Lesotho as it continues to attract investment, create jobs, and build a sustainable economy.
