The Bureau of Statistics (BOS) has launched a national Economic Activity Census (EAC) aimed at providing a comprehensive understanding of Lesotho’s economic landscape.
This is according to a press statement released by the ministry of finance and planning this week.
The EAC will be categorised in Phase 1 and 2. The first phase entails listing of establishments and will span from 9 September to 7 November 2024. The primary objective of Phase I is to conduct a listing exercise in order to set up a comprehensive statistical register of businesses (Statistical Business Register – SBR).
SBR is a comprehensive data base undertaken and maintained by BOS to keep track of all businesses operating within the economy. It includes critical details such as the size of the business, its location, the industry it operates in as well as other key characteristics.
According to the statement, the census is expected to gather crucial information on a wide range of economic activities in the country, from agriculture and manufacturing to trade and service industries.
Collected data will be used to inform policy and decision-making, enabling the government to create strategies and policies that support the growth and development of the economy.
“SBR provides a real-time shot of the business landscape offering insights into how many businesses are operating and in which sectors, as well as their location. This is crucial for understanding the current state of the economy.
“It is a roadmap for policy makers. It helps the government for well-informed decisions, knowing which sectors in business are growing sustainably thus helping for a better planning to create jobs and economic growth.
“Researchers and analysts use SBR data to analyse market trends, assess economic performance, and forecast future growth areas. This allows businesses to make strategic decisions and explore new opportunities,” the statement noted.
It further indicated that businesses personnel benefit from SBR as an informed tool that helps to assess the functioning and sustainability of their businesses in comparison to their counterparts in order to identify potential partners or new markets to expand to.
