South African Business 2019 edition

National champions
Secondly, we are going to set up new companies, or national
champions, within the priority areas and related product categories.
We have already made great strides here to attract the necessary
Foreign Direct Investment by initiating partnerships with renowned
regional and global players in those target product lines. We
can no longer afford to look only inward within the geographic
borders of Lesotho in diversifying our economy. We are talking to
strong partners and are seeking more of those to initiate, promote
and facilitate the development of vertically integrated industrial
activities. The intention is to establish national champions that are
capable of competing at par with their regional and global peers
in strategic industries, particularly in manufacturing and hightech
agri-processing. For the first time, building industries and
diversifying our economy will mean cross-border acquisitions of
strategic assets, raw materials, distribution channels and technology
by these national champions. This represents a real chance to
turn the tide for Lesotho. These companies will be pitched at the
necessary scale and scope with the right technology, product and
process certifications and with top talent to lead them.
Entering foreign and regional markets early is no longer an
option for us as a country, but it has now become a vital necessity.
With this strategic roadmap, we are flipping our resource allocation
almost completely, to cover talent, capital and time commitment.
Activities in high-value manufacturing and high-tech agri-business and
related supply chains will consume a significant portion of these resources.
In the next five years, we are looking at modern high-tech agriculture
as an area for big business, big investment,and big impact in terms of
jobs, incomes and overall economic competitiveness. In manufacturing,
Basotho entrepreneurs will be integrated into local, regional and global
supply chains. We will meticulously assess and evaluate the impacts of
these investments on the economy, on social equity and the environment.
Thirdly, in line with the NSDP II, we aim to facilitate further investments
in our national priority sectors such as tourism and the
creative industries as well as the development of infrastructure and
CONTACT DETAILS
Lesotho National Development Corporation
Address: Development House, P Bag A96, Kingsway
Road, Maseru 100
Contact person: Marina Bizabani, Foreign
Investment Manager
Tel: +266 22 312012
Email: bizabani@lndc.org.ls or ip@lndc.org.ls
Website: www.lndc.org.ls
SPECIAL FEATURE
Mohato Seleke joined the
Lesotho National Development
Corporation in December 2017.
Within six months he released
a five-year corporate strategy
mapping the direction for the
development of industry, and
its contribution to the creation
of inclusive economic growth
in Lesotho.
technology-based industries. We are
keen to welcome the world to experience
our mountainous scenery, green
summers and snowy winters on their
visits to Lesotho or in consuming film
and digital products made in Lesotho.
We recognise that a superior strategy
and a winning business model are
not enough. We are therefore building
our nation brand “Brand Lesotho”
and undertaking a reform process to
streamline our investment climate
to deliver on our promise. This new
strategic posture also demands a reconfigured
organisational platform.
The LNDC is therefore being realigned
to deliver on its key performance parameters
with speed and excellence
in execution.
I invite investment and technical
partners to come and build this new
impactful and rewarding journey of
Lesotho’s with us.
49 SOUTH AFRICAN BUSINESS 2019