The African Development Bank (AfDB) has committed $331 million in investments to Lesotho, aimed at bolstering key sectors such as infrastructure and energy. This funding will support the development of energy transmission lines linking the Kingdom with South Africa, alongside initiatives in digital transformation, trade competitiveness, agricultural development, and water resource management.
King Letsie III of Lesotho assured that necessary policies and incentives are in place to attract private sector participation, particularly in healthcare, agriculture, and manufacturing.
The funding comes as AfDB releases its 2025-2030 Country Strategy Paper for Lesotho, designed to enhance economic growth and industrial competitiveness. Since 1972, AfDB has invested $429 million in Lesotho, financing 87 projects across different sectors. Currently, eight projects valued at $60 million are underway, with expectations for further expansion.
AfDB President Dr. Akinwumi Adesina reaffirmed the bank’s commitment to Lesotho’s economic transformation, emphasizing the potential for further investment.
Source: Energy Capital & Power
