AGP Executive Report
Last update: 9 hours agoCentral Bank Rate Hike: Lesotho’s Central Bank raised the Central Bank Rate by 25 basis points to 6.75% after global geopolitical tensions pushed up fuel prices and threatened inflation and external reserves. Wool Trade Relief: Government welcomed China’s lifting of temporary wool import restrictions, saying it will unblock exports held up via South Africa and restart payments to Basotho farmers. Mining Jobs at Risk: Storm Mountain Diamonds (Kao Mine) will shut on 30 June 2026, citing collapsing diamond prices and lab-grown competition, leaving over 800 workers facing unemployment. Public Finance Scrutiny: The Auditor General flagged major weaknesses in government financial management, including a M3 billion mismatch in cash receipts and payments and gaps in asset and loan guarantee records. Waste Management Alarm: The Ombudsman says 80% of Lesotho’s waste is unmanaged, with illegal dumping and open burning creating health and environmental risks, especially around healthcare waste. Youth Skills & Jobs: At Quthing’s ICT hub, young people sat for exams after a free computer-skills programme aimed at bridging the digital gap and supporting online business. Agriculture & Livelihoods: Lesotho marked International Day of Potato, with officials linking the sector to national development plans, value-chain investment and climate-smart production. Local Business & Community: LMPS Leribe will launch an athletics club to get members more active and reduce hospital admissions linked to lack of exercise.
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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