The recently-formed Lesotho–South Africa Business Council has been urged to open corridors to unlock major trade and investment opportunities between the two countries.
This emerged during a session hosted by the Private Sector Foundation of Lesotho (PSFL) and the Black Business Council, following the establishment of the joint council this week.
The council aims to foster cross-border collaboration, stimulate economic activity, and open new avenues of growth for businesses in both nations.
Speaking at the event, president at Circle of Global Business Women, Dr Sindiswa Mzamo, said transforming borders and identifying key corridor projects is essential to activate Lesotho’s economy.
Mzamo said turning around regional economies required utilising corridors.
“The Durban-Maseru corridor is one of the powerful initiatives to unlock business opportunities. The Lesotho-South Africa Business Council is expected to work towards ensuring this,” she noted.
“There is need to come up with a solution, a real intentional strategy by the Lesotho-South Africa Business Council on the Trans-Maluti initiative,” she added.
Lesotho National Development Corporation Chief Executive Officer, Thabo Khasipe, said analysts had observed that it is almost impossible for small landlocked countries to develop owing to several odds including lack of access to international value chains and markets.
“Being small also means you do not have the economies of scale to basically build an economy that can be self-sufficient,” he added.
He indicated that the Trans-Maluti highway would be a silver-bullet in terms of unlocking Lesotho’s industrial and general development.
“It would connect Lesotho with the port of Durban, Durban to central South Africa, and Bloemfontein through Maseru, cutting through the Maluti Mountains.
“And it being a highway, indications and analysis show that this highway would shave about two hours travel time – that’s about 200km in terms of distance,” Khasipe said.
On his part, the vice president of the Black Business Council, Gregory Mofokeng, said the reason for launching the organisation is “for us to start, not talking but doing”.
“As business people we cannot start by talking, but we need to move towards implementation. Frankly speaking, the corridors do not feature in our plans. We need to make it a point that they boost business and infrastructure projects,” he explained.
“The corridors are going to benefit both South Africans and Basotho as well as their businesses,” Mofokeng added.
