By Seleoe Nonyane
The Private Sector Foundation of Lesotho (PSFL) will sign a memorandum of understanding (MoU) with the Durban Chamber of Commerce and Industry (DCCI) on October 5 2023.
This has been disclosed by the chief executive officer of the Foundation, Thabo Qhesi, this week.
According to Qhesi, the occasion will also see the Lesotho National Development Corporation (LNDC) forge a working relationship with Trade and Investment KwaZulu-Natal (KZN) with a view of making a commitment to support businesses in Lesotho and KZN.
The partnership is expected to increase the level of trade, thereby creating job opportunities.
The KZN province of South Africa has the second largest economy in the neighbouring country, after Gauteng.
In addition, KZN is particularly an ideal partner as it holds 16 big events annually, which attract more 700,000 tourists.
On the other hand, the Durban Chamber of Commerce and Industry, which was established in 1856, has more than 3,500 members from a diversity of sectors.
Outlining the benefits of the cooperation, Qhesi said, “Basotho businesses stand a better to secure new networks from a pool of 3,500 members of DCCI which can assist them to improve their productivity.
“Challenges faced by Basotho businesses while practicing trade in KZN will now be handled in a structured manner,” he noted.
“Basotho products can be exposed to more than 700,000 tourists who visit KZN annually, thereby creating chances of increasing job opportunities,” he added.
The PSFL’s mission is to facilitate sustained dialogue between the government of Lesotho and organised business.
It also aims to promote the productivity and competitiveness of the business sector and entire economy of Lesotho.
The overall objectives of the PSFL are; to serve as the focal point for the private sector in its advocacy of policies and, to promote the long-term development of a dynamic private sector in Lesotho; to promote and ensure sustained dialogue between the Government of Lesotho (GOL) and the business sector in order to promote the development of a dynamic private sector led economy; and to promote the productivity and competitiveness of the business sector and the entire economy of Lesotho through strategic initiatives and partnerships.
When it was officially launched in October 2009, the PSFL aspired to be a leading and dynamic apex body for all private sector organisations in Lesotho.
