Maseru – The Lesotho National Development Corporation has launched an ambitious five-year strategy targeting the creation of 50,000 new jobs by 2031, with the plan also setting goals to develop 100 new Basotho industrialists and establish five new industrial sectors before the end of the decade.
The Letsema Strategy 2026 to 2031 was officially launched at Avani Maseru this past week, drawing high-level attendance including Deputy Prime Minister Nthomeng Majara, cabinet ministers, industry leaders and stakeholders from across the public and private sectors.
LNDC Chief Executive Officer Thabo Khasipe said the strategy had been designed to improve the standard of living for Basotho and reposition the country on a stronger development path. “The higher purpose of the strategy is to improve the standard of living of a Mosotho,” he said. 
On the jobs target, Khasipe was direct about what the corporation intended to deliver. “We want to create over the next five years 50,000 new net jobs. We have a clear trajectory for how these jobs will be delivered. We may lose some jobs along the way and gain others, but by the end of this period we must have 50,000 new jobs,” he said.
The strategy also targets seven percent growth in nominal GDP per capita and the creation of 100 new Basotho industrialists, each employing at least 100 people. “We want to create 100 new Basotho industrialists. These are individuals who do not exist today, and we define them as people employing at least 100 people,” Khasipe said.
By 2031, LNDC also aims to develop five new industrial sectors and achieve the highest Economic Complexity Index ranking within the Southern African Customs Union, which includes South Africa, Botswana, Namibia and Eswatini. Khasipe noted that Lesotho currently lags behind all SACU member states in GDP per capita, a situation he attributed largely to the country’s excessive dependence on imports.
“This economy is stuck because of our excessive import dependency. Because of this, we have limited productive capacity, especially in essential goods that wage earners spend most of their income on,” he said.
The Letsema Strategy is built on four pillars: driving industrial transformation by shifting Lesotho from import dependence to high-value export diversification; unlocking capital for growth by mobilising private and institutional investment; strengthening organisational capability and leadership; and strengthening Lesotho’s national industrial ecosystem by partnering with customers and investors.
“We need to promote exports, higher value exports and more diverse exports. We also need creative ways of unlocking capital for growth,” Khasipe said.
Deputy Prime Minister Majara, speaking on behalf of Prime Minister, said the strategy carried national significance that went beyond the LNDC itself. “Tonight, we launch not just a document, but a national pathway toward economic transformation. Industrial transformation cannot be achieved by the government alone. It requires coordinated action across government, entrepreneurs, investors, financial institutions, workers, and development partners,” she said.
She added that Lesotho’s economy had long been characterised by cycles of short-lived growth followed by slowdown, with structural challenges including limited exports, weak diversification and heavy import dependence continuing to hold the country back.
The LNDC Board Chairperson described the strategy as the product of rigorous analysis and hard choices. “This strategy will challenge what has been ‘business as usual’ and open doors that we must collectively dare to step into. It calls us to be deliberate in collaborating toward a common goal, improving the livelihoods of Basotho,” she said.
Minister of Trade, Industry and Business Development Mokhethi Shelile said the strategy provided a timely response to pressing challenges including uncertainty around the African Growth and Opportunity Act. “Addressing challenges such as these requires a deliberate shift in how we approach industrial development. The Letsema Strategy sets out a coherent response built around four strategic pillars,” he said, adding that he pledged his full support for the plan.
The launch also featured a panel discussion bringing together representatives from Vodacom Lesotho, FNB Lesotho, Lesotho Milling Company, Beesdam, Afri Expo and LNDC, who explored practical pathways to implementing the strategy.
