Neighboured by South Africa, Lesotho is a small country that has faced some challenges for the past few years. Being largely agricultural-led, with diamond mining also a contributing sector to the country’s GDP, Lesotho is working toward enhancing infrastructure, improving social development, and encouraging employment outsourcing opportunities.
As the country develops, opportunities for investors and organisations are numerous for those who want to establish themselves in the country. With the right HR outsourcing strategy, Africa HR Solutions ensures that you can move to Lesotho even if you don’t have a legal entity yet. Our solutions range from Professional Employer Organisation (PEO), Employer of Record, payroll solutions among other ancillary services to help you with the successful implementation of your Lesotho HR outsourcing strategy.
Country Profile - Lesotho
Population: 2.1 mn
Gross Domestic Product (GDP): $1.84 bn
GDP Growth: 1.5%
Foreign Direct Investment (% of GDP): 1.4%
Unemployment Rate: 23.6 %
Currency: South African rand, Lesotho Loti
Languages: Southern Sotho, English
Bordered by South Africa, Lesotho is a small, landlocked country considered a low-middle-income economy. The private sector is quite small, hence the state has the upper hand in being the key player. For the past few years, the country’s economic performance has been affected by various factors, including natural disasters. However, growth is expected to increase with some construction projects such as the Lesotho Highlands Water Project, Lesotho Lowlands Water Development Projects, and roads. Green energy projects are also in the pipeline and initiatives to strengthen financial inclusion are also being discussed.