An Introduction to Lesotho
Lesotho is a country entirely surrounded by the republic of South Africa and named after the language spoken, Sesotho. Around 40% of the population live below the international poverty line of $USD 1.25 a day. Populated since the Bantu Migrations and by the Sotho-Tswana people between the 3rd and 11th Centuries, Lesotho's more recent history began in 1822 when it was formed as a single polity, then called Basutoland. In 1870 it became a British colony, and in 1966 it gained independence. See full country profile.Latest Research News from Africa
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GOVERNMENT: parliamentary constitutional monarchy
AREA: 30,355 sq km
POPULATION: 1,924,886 (July 2011 est.)
MAJOR LANGUAGE: English (official), Sesotho, Zulu, Xhosa
Some business and general info
The Market Research Industry
Trade and Industry in Lesotho
The stripes on the hat seen in the flag of Lesotho represent rain, peace and prosperity - not all of which are plentiful in the struggling country. The hat is traditional to the Basotho people, and may well be the only hat to appear on a world flag - anyone?
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Lesotho is a country entirely surrounded by the republic of South Africa and named after the language spoken, Sesotho. Around 40% of the population live below the international poverty line of $USD 1.25 a day. Populated since the Bantu Migrations and by the Sotho-Tswana people between the 3rd and 11th Centuries, Lesotho's more recent history began in 1822 when it was formed as a single polity, then called Basutoland. In 1870 it became a British colony, and in 1966 it gained independence.
Elections, military c'ups and rule by a military junta followed, but in the late 1990s complex negotiations began to devise a proportional electoral system, and the country now has an active opposition and has held its first peaceful election. However, the people remain poor despite major diamond exports, and HIV and AIDS are rife.
GDP: $3.303 billion (2010 est.) (PPP)
Religions Christian 80%, indigenous beliefs 20%
Currency: Lesotho Loti (LSL) - GBP 1 = LSL 10.97
Telephone Code: +266
Research Industry
The MR industry in the Sadec Region (Angola, Botswana, Lesotho, Malawi, Mozambique, Namibia, Swaziland and Zambia) turned over $9m USD in 2009. Growth has been a steady $1m USD a year since 2005 when turnover was $5m.The economy is based on Diamonds (exported all over the world) and water (which is sold to South Africa - a massive hydro power plant was completed in 1998 that allows Lesotho to supply 90% of its electrical power needs). There is also a reliance on manufacturing, agriculture and livestock and, to some extent, the earnings of labourers employed in South Africa. If you've ever worn Levi jeans, the likelihood is that those all-American, cowboy jeans were manufactured here.
Even so, Lesotho is dependent on international aid - 49% of the population live below the poverty line, and unemployment sits at 45%. Child labour is still a problem, although the government is in the process of forming an Action Program on the Elimination of Child Labour. Sadly, like many other countries in the region, Lesotho has been ravaged by the HIV/AIDS epidemic which has had its own effect on the economy. Current estimates suggest that 50% of women under the age of 40 in urban areas are afflicted. Across the population, 23.2% of people carry the HIV virus.
Lesotho exported $985m worth of goods in 2010, sending products such as clothes, vehicles, wool and animals as far afield as the USA (which accounted for just over 58% of export business), Madagascar and Belgium. Imports for the same year were valued at $1.76bn, consisting of food, construction material and medicine amongst other things. Asian countries accounted for all imported trade, the majority of which came from China, Taiwan and Hong Kong.
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