News Lesotho: Lesotho aims to ‘go big’ on agriculture amid Agoa textiles uncertainty
Lesotho Prime Minister Dr Moeketsi Majoro reports that the country aims to overhaul its underperforming agricultural sector with the objective of improving both food security and attracting export-oriented investment into the production of high-value crops, such as fruit, vegetables and plant-based medicinal oils. Speaking during a webinar on September 4, Majoro described Lesotho’s agricultural recapitalisation programme as a top priority and said the country was “looking to go big on agriculture” in the coming years.
News Lesotho: Lesotho to Direct Smallholders Towards Climate Smart Agriculture
World Bank Approves $10 Million For Smallholder Agriculture Development WASHINGTON, September 29, 2017 – Today, the World Bank approved a $10 million additional financing from the International ...
News Lesotho: SA bans livestock imports from Lesotho
The Veterinary Authority of Lesotho has reported three anthrax outbreaks to the World Organisation for Animal Health (OIE). According to a report, the first outbreak started on 12 May 2019, and a ...
News Lesotho: What You Need To Know Before Buying Your First Bitcoin
Regulated exchanges like Coinbase and Binance handle a large volume of bitcoin purchases today. They connect to your bank account, verify your identity and let you buy bitcoin with dollars or other ...
News Lesotho: Lesotho faces 50% US tariff amid Trump's global trade shake-up
The tiny southern African kingdom of Lesotho has been hit with a 50% reciprocal trade tariff by U.S. President Donald Trump, the highest levy of any single state on his long list of target economies.
News Lesotho: Lesotho: Financial Constraints Hamper Parly Operations
LESOTHO's Parliament is unable to designate a focal person to monitor the domestication of Southern African Development Community (SADC) Model Laws due to financial constraints and a lack of full ...
News Lesotho: Women of Lesotho’s garment industry lose jobs, hope in COVID
MASERU, Lesotho (AP) — Vekile Sesha stood outside the rusted gates of a garment factory in the industrial district of The post Women of Lesotho’s garment industry lose jobs, hope in COVID appeared first on TheGrio.
News Lesotho: Multinational: African Development Bank approves $86.72 million loan to boost water security and socio-economic development in South Africa and Lesotho
The African Development Bank Group’s ( AfDB.org ) Board of Directors has approved a loan ...
News Lesotho: Lesotho Village With Solar Farm Has No Power
Villagers say they gave up grazing land for solar panels in 2022, but they have not seen any reward Maphiring village in Mokhotlong district gave up grazing land in 2022 to allow OnePower Lesotho to ...
News Lesotho: 'We are on our knees': U.S. tariffs devastate Lesotho's garment workers
MASERU, Lesotho —Crowds of women, bundled up in wooly hats and mittens against the sharp winter chill, wait every morning at the gates of a garment factory in Lesotho's capital, hoping that a few ...
News Lesotho: Women of Lesotho's garment industry lose jobs, hope in COVID
Vekile Sesha stood outside the rusted gates of a garment factory in the industrial district of Lesotho’s capital, Maseru, willing her luck to change. Four months earlier, the blue jeans factory where ...
News Lesotho: China, Lesotho pledge deeper cooperation amid changing US trade policy
China and Lesotho have agreed to deepen cooperation across key sectors following an official visit by Chinese Foreign Minister Wang Yi, reaffirming strong bilateral ties and a shared commitment to ...
News Lesotho: Saving Lesotho's Textiles
Saving Lesotho's Textiles. ONCE a beacon of industrial hope and regional competitiveness, Lesotho's textile and garment sector now stands at a critical crossroads. After decades of steady growth and hard-earned global market s
News Lesotho: Lesotho's former finance minister sworn in as new prime minister
Moeketsi Majoro was sworn in as Lesotho's new prime minister on Wednesday, a day after his predecessor resigned under pressure over a scandal involving the killing of his wife. Majoro, who was ...
News Lesotho: For Lesotho's textile workers, Trump's tariff damage is already done
STORY: Every morning, Matsoso Lepau queues at the gates of a garment factory in Lesotho's capital Maseru for a job that no longer exists.For three months, Lepau and other laid-off workers have gathered here after the imposition of U.S. tariffs led to the widespread cancelation of orders, followed by job losses and factory closures.“It doesn't sit well with me that we come here but our lives are tough, things are really difficult.”Lesotho's textile industry - which produces jeans and other garments for popular U.S. brands such as Levi's and Walmart - is its biggest private employer.But it was hit hard when U.S. President Donald Trump announced a 50% tariff on the Southern African kingdom's exports in April.And though he slashed that tariff to 15% last week, for many the damage was already done.Lepau says he's now lost his income of between $162 and $168 a month.He hopes that the lower tariff might mean he gets his job back."The buyers, have stopped, have canceled..."Analyst Thabo Qhesi has his doubts."So, it means the 15% didn't make the difference, you know, because the orders are not coming." Lesotho's textile industry employs around 40,000 people and accounts for roughly 90% of manufacturing exports, according to Oxford Economics.That makes it a key source of employment and foreign exchange for the poor, landlocked country.However, Lesotho's trade minister has raised concerns that the reduced 15% tariff rate does not go far enough - pointing to competition from Kenya and Eswatini, both of whom have 10% rates.
News Lesotho: For Lesotho, 15% tariff down from 50% could still mean disaster
STORY: Donald Trump had threatened to impose a 50% tariff rate on tiny Lesotho - potentially decimating the textile industry on which the landlocked-mountainous kingdom depends.So you might think that last week's decision to significantly lower that rate to 15% would be met with a sigh of relief.Instead, Lesotho's trade minister warns it might still not be enough to avoid a disaster.“For me it’s still like 50% because our people in the garment industry will not compete."Mokhethi Shelile pointed to competition from Eswatini and Kenya, both of whom have lower U.S. tariff rates at 10%."... and they are, both are in the same market as us, and it would be quite easy for the buyers to switch their allegiance to these two countries and place orders in these two countries."The textile industry is Lesotho's biggest private employer and responsible for roughly 90% of manufacturing exports.It was also heavily dependent on the African Growth and Opportunities Act, or AGOA, which offered qualifying African nations duty-free access to the U.S. market.However, under the tariff threats, many U.S. importers have canceled orders of Lesotho-produced textiles.Shelile said there are close to 12,000 jobs directly in the firing line and another 40,000 that depend on those 12,000.At a market in Lesotho's capital Maseru, clothing vendor Hopolang Lebamang fears for his future.The knock-on effects of the tariffs will mean he has to inflate his prices, he says, and that will make them unaffordable for his clients.Lesotho's textile factories have in recent months indicated that they were searching for new markets.Shelile also said his government would continue to engage with the White House in the hope of having the tariff lowered.
News Lesotho: Investing In Cryptocurrency
With a track record going back over a decade, cryptocurrencies are clearly more than just a fad, but they remain widely misunderstood by many people, with doubts persisting about their genuine ...
News Lesotho: Cryptocurrency Explained With Pros and Cons for Investment
Most cryptocurrencies exist on decentralized networks using blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is ...
