Nigeria, Lesotho Deepen Bilateral Ties To Expand Trade, Investment Opportunities

Nigeria and the Kingdom of Lesotho have reaffirmed their commitment to strengthening bilateral relations through expanded trade, investment, technology, renewable energy and private sector collaboration to accelerate economic growth and advance Africa’s economic integration.

The commitment was made at the Nigeria–Lesotho Executive Investment Forum held in Abuja yesterday, where government officials, business leaders and investors from both countries explored opportunities for cross-border partnerships under the African Continental Free Trade Area (AfCFTA).

The high-level business mission was led by Sam Matekane, who headed a delegation comprising senior government officials, representatives of the Lesotho National Development Corporation (LNDC), the Lesotho Tourism Development Corporation (LTDC), and members of the country’s private sector.

The forum was organised by the African Leadership Magazine in partnership with the Abuja Chamber of Commerce and Industry (ACCI).

At the event, Prime Minister Matekane said the visit was designed to deepen existing relationships, establish new investment partnerships and position Lesotho as a competitive destination for business, innovation and enterprise.

He expressed Lesotho’s strong support for the African Continental Free Trade Area, noting that Africa’s economic transformation depends on stronger collaboration among governments, businesses and entrepreneurs across the continent.

“We have come to Abuja to establish new relationships, deepen existing partnerships and present Lesotho as a destination for investment, innovation and enterprise,” he said.

The Prime Minister explained that Lesotho’s national development agenda is focused on building an inclusive, productive and private sector-driven economy through reforms aimed at accelerating industrialisation, improving infrastructure, enhancing competitiveness and creating employment opportunities, particularly for young people and women.

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He assured prospective investors of his government’s commitment to maintaining a stable, transparent and predictable business environment capable of attracting both domestic and foreign investments.

Matekane identified manufacturing, construction, tourism, hospitality, renewable energy, digital technology and value-added industries as key sectors offering significant investment opportunities. He added that Lesotho’s strategic location in Southern Africa provides investors with access to wider regional markets.

He noted that the Lesotho National Development Corporation continues to drive industrial development and investment promotion, while the Lesotho Tourism Development Corporation is expanding opportunities within the country’s tourism industry.

Highlighting the role of young entrepreneurs in Africa’s future, Matekane urged youths to embrace patience, discipline and integrity rather than pursue quick wealth.

Drawing from his personal journey, he recounted how he rose from humble beginnings as a shepherd in rural Lesotho to becoming one of the country’s leading entrepreneurs before assuming political leadership.

“Success comes through hard work, perseverance and consistency. Young entrepreneurs should reinvest in their businesses instead of spending their early profits on luxury,” he advised.

He further called for stronger intra-African trade, stressing that the continent’s vast economic potential can only be unlocked through greater cooperation among African nations.

“Africa is open for business. We must trade more among ourselves, invest in one another and build partnerships that will create shared prosperity for future generations,” he said.

In his opening remarks, the President of the Abuja Chamber of Commerce and Industry, represented by former Minister of State for Foreign Affairs, Aliyu Idi Hong, reaffirmed Nigeria’s commitment to strengthening bilateral partnerships that would unlock investment opportunities and create sustainable economic prospects for African youths.

He said Africa must move beyond discussing the barriers to intra-African trade and focus on building practical partnerships capable of transforming the continent’s economy.

“For far too long, Africa has focused on the challenges of intra-African trade. Today, we are here to transform those challenges into partnerships,” he said.

According to him, while the African Continental Free Trade Area provides an unprecedented platform for economic integration, its full benefits can only be realised through an enabling business environment and greater private sector participation.

He added that Africa’s future would be determined not merely by dialogue but by strategic collaborations that stimulate investment, industrialisation and job creation.

Hong also commended Prime Minister Matekane for his successful transition from a renowned entrepreneur to a national leader, describing him as a shining example of private sector leadership in public service.

Also speaking, Publisher of African Leadership Magazine, Ken Giami, underscored the importance of strengthening economic cooperation among African nations.

He urged participants to use the forum as a platform to establish enduring business partnerships capable of driving sustainable economic growth across the continent.

“Nigeria offers one of Africa’s largest consumer markets, while Lesotho provides strategic opportunities for investment. Together, both countries can build partnerships that promote prosperity across the continent,” he said.

The Executive Investment Forum concluded with business-to-business matchmaking sessions between Nigerian and Lesotho companies, with participants expressing optimism that the engagements would lead to concrete investment deals, expanded trade and stronger economic cooperation between West and Southern Africa.