Local Factories Employ Over 50 000 Basotho

The 61 foreign investors in the country's manufacturing industry produce some M2 million in turn over annually and have employed a total of 53 534 Basotho, according to the Minister of Industry, Trade and Marketing, Mr. Mpho Malie.

Speaking during question time in the National Assembly on March 31, the Minister said the investors, who manufactures such goods as garments, leather shoes, uppers and soles were from China, Malaysia, Mauritius, Singapore, Taiwan and South Africa.

They were forced by the Central Bank of Lesotho's exchange control regulations to bank their export proceeds locally and that all export documents have to be signed by their local bankers.

Basotholand African Congress (BAC) Member of Parliament, Mr. Molapo Qhobela had demanded to know the number of Chinese owned factories in the country, the total number of employees in such factories and whether their profits were banked locally. He had also wanted to know the total annual turn over of the Chinese owned factories.

31  March 2004