AGP Executive Report
Last update: 2 hours agoDiamond sector shock: Storm Mountain Diamonds will shut the Kao diamond mine on 30 June, citing unsustainable fuel costs, a prolonged slump in rough diamond prices and pressure from lab-grown stones—leaving over 800 workers facing uncertainty. Monetary policy: The Central Bank of Lesotho raised the Central Bank Rate by 25 bps to 6.75% as Middle East conflict and higher oil prices threaten inflation and strain external reserves. Trade relief for farmers: Government welcomed China’s lifting of temporary wool import restrictions, saying it unblocked shipments worth over M100 million and has started payments to Basotho wool producers. Public finance scrutiny: The Auditor General flagged major weaknesses in government financial management, including a M3 billion mismatch in cash receipts and payments and concerns around unrecorded loan guarantees and assets. Waste management crisis: An Ombudsman report says 80% of Lesotho’s waste is uncollected, ending up in illegal dumps and open burning, with serious health risks—especially for healthcare waste. Digital skills push: Quthing’s ICT hub ran a five-day exam for youth in basic computer training, aiming to narrow the district’s digital gap and support online business skills. Local business promotion: FNB Lesotho launched an FNB Visa competition with weekly and monthly prizes to encourage secure digital payments ahead of the World Cup.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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