Lesotho

UK Businesses: Discover Untapped Potential in the Heart of Southern Africa

Have you, as a UK business, ever contemplated broadening your horizons to the core of Southern Africa? We invite you to explore Lesotho, a compact yet powerful market teeming with unexplored opportunities for UK enterprises. Encircled entirely by South Africa, this landlocked nation is home to 2.1 million people and boasts a GDP of 2.58 billion. Lesotho extends a unique proposition to UK businesses, with its advantageous trade agreements, competitive labour expenses, and burgeoning sectors ready for investment.

The economy of Lesotho primarily thrives on textiles, agriculture, and remittances from South African workers. Yet, emerging markets in manufacturing, agribusiness, and renewable energy offer avenues where UK businesses can apply their advanced expertise and technology. The nation also possesses an abundance of water and diamond resources, rendering it a potential hotspot for firms in the utilities and mining sectors.

While the current trade between the UK and Lesotho might be relatively modest, the potential for expansion is considerable. Lesotho enjoys duty-free access to the South African market under the Southern African Customs Union (SACU). Furthermore, the country benefits from preferential access to the US market under the African Growth and Opportunity Act (AGOA). These trade agreements can offer UK businesses a strategic entry point into larger African and global markets.

Exploring a new market can indeed be daunting, but UK businesses are not left to fend for themselves. The UK Department for International Trade (DIT) extends invaluable support, providing market advice, potential contacts, and assistance in establishing a presence in Lesotho. The moment is opportune for UK businesses to uncover the potential that Lesotho offers. It's not merely about penetrating a new market; it's about creating a lasting impact and fostering growth on both sides.