Africa > Southern Africa > Lesotho

Lesotho

Capital: Maseru , GDP growth (annual %) 2016: 2.5 %

Africa’s economic growth in 2016 was driven by East Africa

While the continent’s major economies were hit by the fall in commodity prices in 2016, Africa retained its position as the second-fastest growing continent globally recording an average of 2.2% GDP increase, behind only South Asia, according to the African Development Bank Group (AfDB).

Much of Africa’s increase in 2016, AfDB says, was driven by East Africa where several nations recorded “strong performances.” In general, of the continent’s sub-regions, East Africa posted the highest increase rate with 5.3%, led by Ethiopia.
More >
Africa property offers rich pickings for the brave

Some property pundits believe there are major opportunities for investors or companies on the continent.

While most pundits will acknowledge that the saying “Africa is not for sissies” rings authentic at the same time as it comes to property investment , some commentators believe that there are major opportunities for investors on the continent.
More >
Bill Gates sees US likely to maintain aid levels for Africa

The US will probably maintain its current levels of aid to Africa despite President Donald Trump’s proposals to slash funding, according to Bill Gates, the world’s richest man.

Trump said in May his government would no longer allocate funding for family planning, a move that has the potential to undermine aid programs in the poorest nations in the world. However, with Congress in control of the budget, it’s unlikely that all cuts proposed by the Trump government will go ahead next year, Gates said in an interview in Dar es Salaam, Tanzania’s commercial capital.
More >

glObserver provides the latest Asian and international business

Key Facts: Full name: The Kingdom of Lesotho
Population: 2.2 million (UN, 2011)
Area: 30,355 sq km (11,720 sq miles)
Major languages: Sesotho, English
Major religion: Christianity
Life expectancy: 50 years (men), 48 years (women) (UN)
Monetary unit: 1 loti (L) = 100 lisente
Main exports: Water, diamonds, clothing, wool, mohair, food, livestock
GNI per capita: US $1,040 (World Bank, 2010)
Internet domain: .ls
International dialling code: +266

top news
interview
Country Profile

Africa's Relationship With China Is Ancient History
2017/07/02
In 2002 South Africa's Parliament unveiled a digital reproduction of a map - of China, the Middle East and Africa - that some speculated could be the initial map of the African continent. The Da Ming Hun Yi Tu - the Comprehensive Map of the Great Ming Empire - was drawn up around 1389 during the Ming Dynasty, according to historian Hyunhee Park.

More >
Climate change laws around the world
2017/05/14
There has been a 20-fold increase in the number of global climate change laws since 1997, according to the most comprehensive database of relevant policy and legislation.

The database, produced by the Grantham Research Institute on Climate Change and the Environment and the Sabin Center on Climate Change Law, includes more than 1,200 relevant policies across 164 countries, which account for 95% of global greenhouse gas emissions.

More >

Africa: Making Things Happen at the Bank - 'Not a Talk Shop' - Akin Adesina
2017/07/02
Dr. Akinwumi Adesina is focusing on five areas to achieve the African and world goals for a prosperous continent since becoming president of the African Development Bank - Africa's major public financial institution in September 2015. He was a keynote speaker at this month's Corporate Council on Africa's U.S.- Africa Business Summit in Washington D.C. and moderated a lively panel with five African government ministers. He as well received the Gene White Lifetime Succcess Award from the World Child Nutrition Foundation. This week, he was named the 2017 recipient of the World Food Prize, a prestigious honor that includes a $250,000 award. In an interview in Washington, DC, Adesina discussed the Development Bank's ambitious schedule and his vision for attracting the increase capital Africa needs. Posting questions for AllAfrica was Noluthando Crockett-Ntonga.

More >

Outlook for 2013-14
2013/10/06
The country (Lesotho) is situated in Southern Africa, an enclave of South Africa. It has borders with South Africa for 909km.
Land in Lesotho is mostly highland with plateaus, hills, and mountains. Basotho land covers an area of 30355 km².

The climate is cool to cold, dry winters; hot, wet summers. Mosotho (singular), Basotho (plural) speak Sesotho (southern Sotho), English (official), Zulu, Xhosa.

Outlook for 2013-14
- Political stability has been supported by the smooth transfer of power in June 2012 from the long-serving former prime minister, Pakalitha Mosisili, to Thomas Thabane, the leader of the All Basotho Convention (ABC).
- The ruling coalition made up of the ABC, the Lesotho Congress for Democracy (LCD) and the Basotho National Party (BNP) is the initial of its kind in Lesotho, and there is some uncertainty about how it will fare.
- The likelihood of a additional left-wing or nationalist schedule has increased following the transfer of power, but radical changes are unlikely and a broadly technocratic approach to economic policy is likely to be maintained.
- Real GDP increase is estimate at 5.9% in 2013 as the second phase of the Lesotho Highlands Water Project begins, and at 5.3% in 2014 as mining performs well but manufacturing and agriculture record weak increase.
- Inflation is estimate at 4.7% in 2013 and 5% in 2014, driven by trends in South Africa (the major source of Lesotho\'s imports) and world oil prices.
- The current-account deficit is estimate at 21.2% of GDP in 2013 and 19% of GDP in 2014, owing to continued weak increase in textile exports and strong request for imports of capital goods. Financing difficulties are not expected.
More >