The Ministry of Agriculture, Food Security and Nutrition, led by Minister Thabo Mofosi, recently took to the global stage in Rome, Italy, to attract a groundbreaking M2.6 billion investment in the country’s agricultural sector.
Mofosi presented at the Hand In Hand Investment Forum, which was held from October 15 to 17, 2024.
The Ministry’s presentation outlined detailed plans for a M2.6 billion investment across four key areas of agriculture: piggery, poultry, aquaculture, and seed potato production.
“These areas were selected for their high potential to reduce Lesotho’s dependency on food imports, improve the livelihoods of local farmers, and create thousands of jobs for Basotho,” Mofosi said.
Piggery: M526 Million to Boost Pork Production
“Lesotho imports more than 8,000 tonnes of pork every year. The Ministry is targeting a M526 million investment to close this import gap by producing 7,488 tonnes of pork annually. This investment will establish feed mills, improve pig breeds, and build abattoirs and processing facilities.
“The piggery investment is expected to create over 12,000 direct jobs, providing Basotho with much-needed employment opportunities in rural areas while increasing local pork production to reduce dependence on imports,” the presentation noted.
Poultry (Broilers): M826 Million to Reduce Chicken Imports
“Lesotho imports around 20,000 tonnes of poultry meat each year. The Ministry is seeking M826 million to invest in feed mills, rearing houses, hatcheries, and processing plants to produce over 10,000 tonnes of poultry meat annually. This investment will help reduce reliance on imported chicken while creating 1,200 direct jobs for Basotho.
By expanding the local poultry industry, Mofosi noted the initiative will enhance food security and provide fresh, affordable chicken to local markets.
Aquaculture: M1 Billion for Trout and Salmon Farming
“Lesotho’s cool, clean waters are ideal for fish farming, particularly trout and salmon. The Ministry is advocating for a M1 billion investment to develop large-scale trout and salmon farms in Katse, Mohale, and ‘Muela Dams. This aquaculture project is expected to produce 7,500 tonnes of fish annually, positioning Lesotho as a major fish exporter within the Southern African region,” the presentation indicated, citing the aquaculture sector offers significant opportunities for export, targeting markets such as the Southern African Customs Union (SACU), the European Union, and Japan.
The ministry noted the project would create 1,100 jobs, primarily benefiting rural communities around the dams.
Seed Potato: M274 Million to Boost Local Production
“Lesotho imports over 18,000 tonnes of seed potatoes annually. To address this, the Ministry is seeking to secure M274 million to develop tissue culture labs, greenhouses, and post-harvest storage facilities. This initiative will enable local production of 16,230 tonnes of seed potatoes each year, reducing imports and enhancing food security.
“The seed potato initiative is expected to create over 2,200 jobs and assist farmers in highland areas such as Semonkong and Thaba-Putsoa. With improved farming practices and infrastructure, Lesotho will be able to produce high-quality potatoes locally, boosting rural economies and decreasing costs for local farmers,” the presentation noted.
Opportunities for Lesotho
The M2.6 billion total investment sought by the Ministry of Agriculture will not only provide much-needed infrastructure but also transform Lesotho’s agricultural sector from small-scale subsistence farming to commercial-scale production, Minister Mofosi said.
“With Lesotho’s abundant natural resources—clean water, cool climates, and strategic location—these investments present a valuable opportunity to enhance local food security while creating sustainable jobs for thousands of Basotho,” Mofosi emphasised.
Risks and Mitigation
The Ministry acknowledged potential challenges, such as high costs of imported feed for pigs and poultry, environmental risks in aquaculture, and outdated infrastructure in seed potato production. However, proposed investments in local feed production, environmental management systems, and modern farming technologies will help mitigate these risks and ensure the sustainability of these projects.
To ensure optimal experiences, we utilize technologies such as cookies to store and/or access information from your device. Granting consent to these technologies enables us to process data, including browsing habits or unique identifiers on this website. Conversely, not consenting or revoking consent may negatively impact specific features and functionalities.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
