***Invites Nigerian firms relocating from S/Africa

 

The Kingdom of Lesotho has stepped up efforts to attract Nigerian investors, assuring them of a safe and welcoming business environment amid recurring xenophobic attacks against foreign nationals in neighbouring South Africa.

The Southern African nation also invited Nigerian-owned businesses operating in South Africa to relocate to Lesotho, promising investor protection and a stable business climate.

The assurances were given on Wednesday in Abuja during the Nigeria–Lesotho Executive Investment Forum, where Lesotho’s Prime Minister, Sam Matekane, led a high-level government and business delegation to deepen economic ties with Nigeria.

The parley was organised by the African Leadership Magazine in partnership with the Abuja Chamber of Commerce and Industry to promote trade, investment and private-sector collaboration between both countries.

Addressing concerns raised by prospective Nigerian investors over the safety of doing business in Southern Africa, Lesotho’s Minister of Foreign Affairs and International Relations, Limpho Tau, said the country should not be compared with South Africa.

He stressed that Lesotho is a sovereign and independent nation with a different culture and attitude towards foreign investors.

“Lesotho is a sovereign state, an independent state, and our culture is different from any other country,” Tau said.

He acknowledged that Lesotho had also been affected by the ripple effects of xenophobic violence in the region but maintained that the country remained committed to protecting foreign investors.

“Lesotho is also a victim of xenophobic attacks. We are ready to accept any Nigerian investment in South Africa that wants to relocate,” he added.

Earlier, Prime Minister Matekane urged African countries to strengthen intra-African trade and investment, saying the continent’s economic future depends on greater collaboration among governments and the private sector.

Matekane described the visit as a strategic step towards expanding economic ties between both nations and positioning Lesotho as an attractive destination for investment and innovation.

“We have come to Abuja to establish new relationships, deepen existing partnerships and present Lesotho as a destination for investment, innovation and enterprise,” he said.

Matekane said Lesotho fully supports the implementation of the African Continental Free Trade Area, stressing that stronger partnerships among African governments, businesses and entrepreneurs are critical to unlocking the continent’s economic potential.

He explained that his administration is pursuing reforms aimed at building an inclusive, productive and private sector-driven economy through industrialisation, improved infrastructure, enhanced competitiveness and job creation, particularly for women and young people.

The Prime Minister also commended the administration of President Bola Ahmed Tinubu for pursuing reforms that are contributing to economic transformation and strengthening cooperation across Africa.

Speaking, Lesotho’s Minister of Trade, Industry and Business Development, Motlatsi Maqelepo, said the investment mission to Nigeria was a deliberate strategy to build stronger commercial ties with Africa’s largest economy.

According to him, Prime Minister Matekane, a successful businessman before becoming Prime Minister, always travels with members of the private sector to promote investment opportunities.

“We know very well that Nigeria is one of the powerhouses of Africa in terms of economy and population. Nigerian businesses have advanced significantly, and we came here to establish business linkages with the Abuja Chamber of Commerce and Industry and Nigeria as a whole,” Maqelepo said.

He noted that investors establishing businesses in Lesotho would gain access to the wider Southern African market while benefiting from opportunities created under the African Continental Free Trade Area.

The minister identified renewable energy, data centres, textiles, apparel manufacturing and agribusiness as priority sectors for investment.

President of the Abuja Chamber of Commerce and Industry, Chief Emeka Obegolu, said Lesotho had demonstrated a clear commitment to welcoming Nigerian businesses.

Represented by the second deputy president, ACCI, Dr. Aliyu Idi Hong, he noted that unlike South Africa, where Nigerians have repeatedly suffered xenophobic attacks, there had never been a reported case of Nigerians being targeted in Lesotho.

“While some people are chasing us away, others are trying to befriend us. That is a very positive sign.

“There are Nigerians who have been doing business in Lesotho for many years, and we have never had any incident involving them. In South Africa, unfortunately, these attacks have happened repeatedly. That tells you the cultures of the two countries are different,” he said.

Hong said the personal involvement of Prime Minister Matekane in engaging Nigerian investors reflected Lesotho’s seriousness in attracting foreign investment.

Publisher of African Leadership Magazine, Ken Giami, underscored the importance of stronger economic cooperation among African countries, saying the continent’s development depends on sustained partnerships and increased investment.

He urged participants to leverage the investment forum to build long-term business relationships that would translate into tangible economic benefits.

“Nigeria offers one of Africa’s largest consumer markets, while Lesotho provides strategic opportunities for investment. Together, both countries can build partnerships that promote prosperity across the continent,” he said.