94 000 jobs. That is what the Millennium Challenge Account (MCA-Lesotho) will create in the next 10 years, according to Prime Minister Sam Matekane. The MCA-Lesotho was created by the Lesotho parliament last year after the United States’ Millennium Challenge Corporation (MCC) found Lesotho eligible to receive development funds.
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The MCC gives development grants to poor countries that respects democratic principles and human rights.
The MCC has unlocked a staggering US$322 million (over M5 billion) to the government of Lesotho after the country enacted three laws the protect people’s basic rights this week.
Matekane advised youths to visit MCA-Lesotho offices to understand how best they can benefit from the fund and the projects that will be financed.
The MCC’s investments are aimed at increasing the availability of water for household and industrial use, enhance watershed management and conservation methods, rehabilitate health infrastructure and strengthen health systems, and remove barriers to private investment.
The MCA-Lesotho’s Health and Horticulture Compact seeks to assist the country in unlocking equitable and sustainable economic growth in partnership with the private sector by addressing key constraints to growth.
Matekane said the job creation potential of the horticulture project alone is estimated at 4 000 jobs.
This excludes indirect jobs that will be created through packaging supplies, logistics, cold chain activities as well as the processing of the output.
“Let us all be ready and ensure we spend all the funding that is available,” Matekane said.
He said the money is going to be invested in agriculture, trade and industry, value chains, infrastructure development, tourism and creative sectors.
“The Compact has come at a critical time when the country is in dire need of financial injections to revive the economy,” he said.
“This second Compact forms the core of Lesotho’s private sector-led economic growth, recovery and job creation agenda.”
He said the MCA staff should work diligently, to implement this Compact.
“There are several Basotho businesses out there that are eager to seize the opportunities that the Compact brings,” Matekane said.
“Serve them with integrity, accountability and dedication.”
Matekane said the government has established the Cabinet Sub-Committee on the Compact which is under the leadership of Deputy Prime Minister Nthomeng Majara.
The sub-committee is mandated to ensure that the government provides overall oversight, strategic direction and support for successful implementation of the Compact.
He said he expects the MCA-Lesotho to ensure the full implementation of the project within the next five years.
“Our economy needs this capital injection to boost productivity and job creation,” Matekane said.
Matekane said the government had to enact three pieces of legislation which were necessary to support the investments that the MCC is making.
The enacted laws are the Labour Code Amendment Bill, the Administration of Estates and Inheritance Bill and the Occupational Safety and Health Bill.
Majara Molupe
