Project to attract foreign investors

FamCast News
a month ago


By Matšeliso Phulane

The Lesotho’s Nation Brand which is an initiative of Lesotho National Development Corporation (LNDC) launched this week, has been hailed as an appealing instrument designed to attract foreign investment and stimulate trade growth.

The Lesotho Nation Brand logo is a modern visualisation of a national symbol which embodies the essence of Basotho culture, tradition and attire.

It was created from the iconic ‘mokorotlo’ hat, making it a powerful representation of Basotho heritage and identity.

Speaking at the event, King Letsie III described the launch as a journey that will hopefully shape the future of the nation and elevate its standing on the global stage.

“With great pride and steely determination, we unveil the new brand identity of our nation – a symbol of our collective aspirations and boundless potential.

“And as we celebrate 200 years of the founding of the Basotho nation, I earnestly hope that the new brand identity will also stand as a symbol of our nation’s unity, resilience, courage and our determination and desire to work for peace, prosperity and inclusive development.

“The Nation Brand that we are officially launching today has identified four main pillars which form the foundation of our vision as a nation, a vision for a prosperous and thriving Lesotho. These pillars are: investment, trade, tourism, development of local products, and patriotism,” he said.

He noted that will be the cornerstones upon which Lesotho will build a brighter future for the children and grandchildren.

The King also indicated that investment plays a vital role in driving economic growth and creating opportunities for the people.

“By fostering a conducive environment for investment, Lesotho will attract both domestic and foreign capital, fueling innovation, job creation, and accelerated growth across all sectors of our economy.

“The ministry of trade, in this increasingly interconnected world, serves as a catalyst for progress and prosperity.  Therefore, through strategic partnerships and trade agreements, we will expand our market reach, promote our unique offerings, and ensure that Lesotho-made goods and services are attractive, competitive and sought after in global markets.

“We will continue to harness our God-given natural resources to drive economic growth and social transformation, and where appropriate, utilise those natural resources to create industries and businesses that can expand our export offerings. We have always believed that our country is blessed with an array of breathtaking landscapes, rich cultural heritage, and people whose hearts are warm and hospitable. all of these qualities and attributes are valuable ingredients for building a prosperous tourism industry,” he observed.

The King further congratulated and thanked the leadership of LNDC and ministry of trade, industry and business development, for conceiving and bringing to life this initiative and for having done a commendable job Basotho are all obligated to support this initiative so that it can bring tangible benefits for the country and people

At the same occasion, LNDC chief executive officer Molise Ramaili said over the past months, the organisation has led the charge in crafting the Lesotho Country Brand Strategy and Management Framework – an initiative poised to redefine Basotho identity on the global stage.

Ramaili said with this, LNDC’s goal is ambitious yet essential: to fully leverage the unique offerings of the Kingdom of Lesotho, to attract investment, boost tourism, foster international trade, and drive economic diversification.

“Through meticulous planning and strategic execution, LNDC has designed an internationally appealing Lesotho Nation Brand Positioning Framework, in alignment with our broader Nation Brand Strategy.

“This framework, meticulously crafted and rigorously vetted, has received strategic and technical endorsement from key stakeholders, including the cabinet, the LNDC Board of Directors, the Nation Brand Advisory Council and a dedicated technical working group.

“But why, you might ask, is branding a nation so imperative? The answer lies in five fundamental objectives: to attract foreign investment and stimulate trade growth, to enhance the reputation of our country’s brands, to manage perceptions—both positive and negative, to boost inbound tourism and tourism receipts, and finally, to bolster our political influence on the global stage,” Ramaili explained.

Lesotho, like any other nation, requires a strong and compelling nation brand – one that not only elevates her people’s reputation but also empowers our citizens with a sense of pride and ownership.

He concluded that it is incumbent for Basotho to position the country as a formidable player in the global economic arena, and to inspire every Mosotho to uphold its rich heritage and culture with unwavering pride.

“Our journey towards nation branding has been guided by a comprehensive analysis of internal and external factors – a journey that has unearthed valuable insights into Lesotho’s current position, its brand implications, and the necessary steps to chart our course forward.

“These steps encompass strategic resource utilisation, proactive measures to address external factors, and initiatives aimed at fostering patriotism, peace, and cultural celebration among the Basotho nation,” Ramaili pointed out.