AGP Executive Report
Last update: 7 hours agoMonetary Policy: Lesotho’s Central Bank raised the Central Bank Rate by 25 basis points to 6.75% to protect price stability as Middle East tensions push up fuel and transport costs, with the IMF also cutting 2026 growth forecasts and lifting inflation expectations. Agriculture & Jobs: On International Day of Potato, the Agriculture Minister said potato sector development is aligned to national plans, including commercialisation, private sector participation, climate-smart production, mechanisation and value-chain strengthening. Trade & Exports: Government welcomed China’s decision to lift temporary wool import restrictions, saying it should ease delays at South African ports and help release held consignments worth over M100 million, with payments to farmers already starting. Mining & Employment: Storm Mountain Diamonds (Kao Mine) will cease operations by 30 June 2026, citing weak diamond prices and lab-grown competition, leaving over 800 workers facing unemployment. Public Finance Oversight: The Auditor General flagged major financial management weaknesses, including M3 billion cash receipt/payment misalignment and missing records on assets and loan guarantees. Waste & Health: The Ombudsman warned that 80% of Lesotho’s waste is unmanaged, with illegal dumping and open burning creating serious public health risks, especially around healthcare waste. Skills & Youth: Quthing’s ICT hub is certifying 25 youth after a five-day exam for a free computer skills programme, aimed at narrowing the district’s digital gap. Informal Economy Pressure: Street vendors say sudden tax demands could force closures, as many earn less than M50 a day and already struggle with daily fees. Governance & Compliance: Lesotho’s waste and market research efforts continue, while South Africa’s SARS and IEC updates show how regional systems are tightening around declarations and election integrity.
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