The workshop aligns with Afreximbank's ongoing commitment to fostering the development and execution of superior projects throughout Africa.
Some of the Joint Project Preparation Facility facilitators and attendees pose for a photo during the workshop
Afreximbank and the Lesotho National Development Corporation
recently co-hosted a workshop in Maseru, Lesotho, to address investment gaps in
project preparation.
The event, held on 21 June 2024, brought together key
government ministries, industry leaders, policy makers, regulators, and
commercial banks to discuss the importance of project preparation in boosting
trade and investment in Lesotho.
This workshop is part of Afreximbank's ongoing efforts to
promote high-quality projects in Africa and highlighted the challenges faced by
project developers and sponsors.
By accessing financing from project preparation facilities,
these challenges can be overcome, ultimately attracting more investment into
Lesotho and bridging infrastructure gaps
Mr. Zitto Alfayo, Head of Project Preparation at Afreximbank represented Mrs. Kanayo Awani, Executive Vice President Intra Africa Trade and Export Development (IATED), Afreximbank. He noted that such interventions will promote industrialization and export development activities in Lesotho thereby catalysing sustainable growth in the priority sectors as outlined in Lesotho's National Strategic Development Plan II.
LNDC Interim CEO, Mr. Molise Ramaili emphasized that the JPPF collaboration was implemented at a time when his organisation is in the process of rolling out a strategy anchored on collaboration as a form of competitiveness, to leverage the strengths of like-minded players in economic development at local and regional levels. He challenged the Lesotho private sector to engage more with LNDC and Afreximbank to advance their projects to bankability and investment readiness.
The workshop was a direct result of the Joint Project Preparation Facility (JPPF) partnership established between Afreximbank and the LNDC in November 2022. The primary goal of this partnership is to significantly increase the number of investment-ready projects that are available for private sector investment in Lesotho.