The country’s 2005/2006 budget acknowledges the need for effective cooperation between government and the private sector for Lesotho to achieve economic growth and sustainable development, Minister of Finance and Development Planning, Dr. Timothy Thahane has told the NEPAD Business Group Lesotho (NBGL). 

“In the budget speech we specifically pointed out that the first and most important challenge is to make the private sector a real engine for rapid acceleration of growth, job creation and poverty reduction.” 

To this end, a private sector development forum was called with the aim of identifying the role of the private sector in achieving growth and creating jobs to eradicate poverty.

Lesotho also realised the need for policy challenges, identification of new sectors for growth and export and removal of barriers to investment and business development.  

Dr Thahane noted that the NBGL comprises leading business organizations and persons, both inside and outside Africa, who are committed to helping the continent realise its full economic potential. The group will act as a medium between NEPAD and private companies who support its aims.

NBGL Chairperson Mrs. May Moteane said the group shares information on Africa and encourages private sector involvement in sustainable development projects.  

One of the objectives of NBGL is to explore business opportunities in the NEPAD programme for members and work with the government to achieve the national priorities under the NEPAD programme. 

Mrs. Moteane echoed the Minister's words about the need for government interaction with the private sector, as this is the only way to break poverty and unemployment in Lesotho as well as the whole of Africa.

27 May 2005