Lesotho Prime Minister Receives IFC Delegation to Discuss Private Sector Growth

Prime Minister Ntsokoane Samuel Matekane recently hosted a delegation from the International Finance Corporation at State House in Maseru. The IFC team, led by Regional Director for Southern Africa Ms Cláudia Conceição, engaged in discussions with the Prime Minister on strategies to boost private sector development, promote investment, and foster economic growth in Lesotho. The meeting focused on strengthening local enterprises, improving access to finance, infrastructure development, and job creation.

The IFC is the private sector arm of the World Bank Group, dedicated to promoting economic development in emerging markets. Founded in 1956, the IFC operates in over 100 countries, providing financing and advisory services to private companies and governments. In its 2025 financial year, the IFC committed a record US$71.7 billion, with US$15.3 billion allocated to Sub-Saharan Africa. This significant investment demonstrates the IFC's commitment to supporting economic growth in the region.

The IFC has a notable track record of projects in Lesotho, including the development of the Queen 'Mamohato Memorial Hospital in Maseru. The IFC served as a transaction advisor for a public-private partnership to build the hospital and refurbish primary care clinics. The project, which cost approximately US$100 million, was completed in 2011 under a contract with a consortium led by Netcare. The IFC presented the hospital as a model for private sector involvement in African healthcare.

In addition to the hospital project, the IFC has been involved in various initiatives in Lesotho, including a programme to dispose of hazardous medical waste and an investment climate programme aimed at business regulation reforms and attracting foreign direct investment. The IFC's current focus in Lesotho is on the textile sector, the country's largest private employer, which faces uncertainty due to United States import tariffs. The IFC is advising the sector through public-private dialogue with the Ministry of Trade, Industry and Business Development.

The IFC's work in Lesotho is aligned with the World Bank Group's Country Partnership Framework for 2024 to 2028, which prioritizes job creation, human capital, and climate resilience. The framework aims to support Lesotho's economic development and provide opportunities for growth. The IFC's continued cooperation with the Government of Lesotho is expected to drive economic development and open up investment opportunities in the Kingdom.

Prime Minister Matekane and the IFC delegation agreed on the importance of continued collaboration to support economic development in Lesotho. The meeting highlighted the potential for private sector growth and investment in the country, particularly in areas such as infrastructure development and job creation. The IFC's expertise and resources are expected to play a significant role in driving economic growth and development in Lesotho.

The visit by the IFC delegation demonstrates the organization's commitment to supporting Lesotho's economic development. The IFC's engagement with the Government of Lesotho and the private sector is expected to yield positive outcomes, including increased investment, job creation, and economic growth. The partnership between the IFC and Lesotho is poised to drive sustainable development and improve the lives of Basotho citizens.

Key points

• The IFC has committed a record US$71.7 billion in its 2025 financial year, with a significant portion allocated to Sub-Saharan Africa.
• The IFC's work in Lesotho is aligned with the World Bank Group's Country Partnership Framework for 2024 to 2028, prioritizing job creation, human capital, and climate resilience.
• The IFC has a notable track record of projects in Lesotho, including the development of the Queen 'Mamohato Memorial Hospital in Maseru.