‘Mantšali Phakoana
Prime minister Sam Matekane has invited the government of the Republic of Korea and that country’s private sector to invest in Lesotho’s water and energy sectors.
Matekane made this call during a two-day Korea-Africa Business Summit held in Ilsan, South Korea this week.
He said Lesotho’s water harvesting, hydro power generation, solar power and all forms of clean renewable energy sectors were ready for development and collaboration with other friendly countries, hence his invitation.
“In this regard, we invite the Government of the Republic of Korea and its private sector to consider investments in water harvesting, hydro power generation, solar power and all forms of clean and renewable energy,” he noted.
Lesotho was looking forward to strengthening economic ties with Korea, recognising the immense potential for mutual benefit through enhanced trade, investment and economic cooperation.
Matekane added that by leveraging in technology, innovation, and entrepreneurship, the country aims to create new opportunities for economic growth and development in our country.
“This collaboration will enable Lesotho to access advanced technologies and innovative practices, fostering an environment where our businesses can thrive, leading to significant economic growth.
“Through this partnership, Lesotho looks forward to opening new markets, creating jobs, and enhancing our economic resilience.
“The world has increasingly become unpredictable. Our countries have to quickly navigate the scourges of the global challenges by adopting sustainable interventions that will see them staying relevant in this new global context,” he pointed out.
Matekane further indicated that through concerted efforts with South Korea and fellow African countries, Lesotho aims to develop sustainable solutions to address climate change, food insecurity, health challenges, and energy crisis.
The collective effort would benefit the two countries’ environment while at the same time strengthening their social and economic fabric.
For Africa to free itself from the shackles of poverty, structural transformation through rapid industrialialisation and diversification should be a priority as envisaged by the African Union Agenda 2063, he said.
He also pointed out that the transformation of the Republic of Korea to an industrial powerhouse should therefore be an inspiration to “us in Africa as we seek to transform our economies”.
“We are therefore, looking forward to exchanging policy ideas and seeking ways to accelerate cooperation on industrialisation with the Republic of Korea for mutual benefit.
“Equally important and cross cutting is the energy sector. Sustainable cooperation is imperative in fully utilising environmentally friendly sources of energy.
“Lesotho for instance, is richly endowed with hydro, solar and wind energy resources which makes it the potential Southern African power pool,” Matekane noted.
He stated that shared growth and prosperity remains impossible without shared security, adding that economic growth needs unprecedented stability.
He further indicated that the biggest threat to peace today comes from social ills such as never-ending conflicts and wars, violent extremism, and terrorism.
The summit was attended by African leaders, South Korean officials, and international organisations and discussed industrial development, trade, food and mineral security, and climate change.
The summit was held under the theme: “The Future We Make Together: Shared Growth, Sustainability, and Solidarity.”
Matekane’s delegation included the minister of information, communication, science, technology and innovation, Nthati Moorosi, minister of energy, Prof Nqosa Mahao, and minister of trade, industry and business development, Mokhethi Shelile.
