Maseru — Lesotho is taking its economic future to the global stage by launching a major initiative to convert diaspora remittances into long-term national development.

According to the Ministry of Foreign Affairs and International Relations, the country will host a high-level investment gathering on November 12 at the Gallagher Convention Centre in Midrand, South Africa.

Under the theme "Taking Lesotho to the World Through Investment!", the forum aims to bring together the Basotho diaspora, institutional investors and key economic stakeholders to redirect overseas capital into high-impact domestic enterprise, trade and job creation.

The move comes as reports show that Basotho living abroad more than 95% of whom reside in South Africa remit roughly US$475 million (M7.9 billion) to US$500 million (M8.3 billion) every year. These annual flows represent a staggering 21% to 22% of Lesotho's Gross Domestic Product (GDP).

Historically, these remittances have primarily financed daily household consumption. However, the government and the Lesotho National Development Corporation (LNDC) are actively working to pivot this financial stream into productive, job-generating sectors. Target areas include agriculture, agro-processing, infrastructure, tourism and renewable energy such as solar, wind and hydro-power.

Backed by international partners, Lesotho is building stronger institutional and regulatory channels to integrate migrant savings into formal capital markets, including the exploration of sovereign sustainable diaspora bonds and dedicated outreach structures.

By leveraging its high literacy rate (approximately 86%) and its membership in regional bodies like the Southern African Customs Union (SACU), Lesotho is actively positioning itself as a highly competitive regional hub for textiles, green industry, agro-processing and business services.