Maseru, Mar. 17 — In the wake of the 8th EU-South Africa Summit held in Cape Town, significant financial commitments from the European Union (EU) could provide vital opportunities for neighboring Lesotho.
European Commission President Ursula von der Leyen announced a robust €4.7 billion “Global Gateway Investment Package,” focusing on essential support for energy transition initiatives, the development of critical raw materials, low carbon hydrogen value chains, and energy infrastructure.
The summit’s discussions are particularly pertinent to Lesotho, which shares geographic and economic ties with South Africa. As Lesotho works towards diversifying its economy and investing in sustainable energy sources, the EU’s investment could catalyze similar projects in the small, mountainous kingdom.
In an insightful conversation with the Agency, one of Business figures Mr. Seeisa Majoro shared that accessing the knowledge and resources from South Africa’s just energy transition could provide invaluable insights for Lesotho’s development strategy, particularly in building resilience against climate change. LS/TL
