… project aimed at improving investor perceptions of the country
Mohloai Mpesi
THE Lesotho National Development Corporation (LNDC) is embarking on a project to try and spruce up the country’s image abroad to build investor confidence into the country.
The Corporation’s Investment and Trade Promotion general manager, Puseletso Makhakhe, said there was no doubt that ubiquitous reports about the country’s high crime rate had generated negative perceptions of the Kingdom internationally. Those negative perceptions were contributing to investors rejecting the LNDC’s investment proposals.
She told the Lesotho Times this week Lesotho was losing a plethora of investment opportunities due to negative perceptions mainly created by the country’s high crime rate.
The World Population Review ranks Lesotho among the top six countries with the worst homicides levels per capita in the world.
Ms Makhakhe said it was hugely worrying that the only thing investors now knew about Lesotho was its high crime levels and not the country’s beauty and potential for business. The LNDC was thus committed to changing that through the initiative dubbed – Nation Brand.
The Corporation has already advertised for an audition for a song to accompany the Nation Brand project. The song will be the signature song in the drive to promote trade, investment, tourism and patriotism.
Ms Makhakhe said the LNDC had already embarked on a perception study to gather what people worldwide perceived of Lesotho. Through the study they had learned the country’s image abroad was not at all positive. Lesotho’s high crime rate was particularly breeding negative perceptions of the country and impacting its investment potential.
“Nation Brand is a strategy that countries use to brand themselves. So, LNDC is driving its Nation Brand in an effort to build and manage the reputation of the country.
“When you start this kind of initiative, you first have to embark on a perception study where you gather people’s views about the country. You gather these perceptions from people in and outside of your country. In this case Lesotho.
“The next step is that you develop your Nation Brand strategy to address all the shortfalls identified by the study. If, for example, the perception study indicates a high rate of crime and homicides as a source of concern, then you will know investors will be discouraged. No investor wants to go to a place where they believe their lives will not be protected…,” Ms Makhakhe said.
She however could not disclose the full details of the entire strategy saying that would be done at the actual launch which is yet to be finalised.
Lesotho ranks number six in the global homicide ratings at 41.25 homicides per 100 000 people. That is a feat not to be proud of. It scares off some potential investors when negotiations are at an advanced stage, Ms Makhakhe noted.
She cited the May 2023 murder of radio personality, Ralikonelo Joki, which made news worldwide, badly impacting the country in the process.
“LNDC as an investment promotion agency of the country feels the pinch when the country’s reputation is in tatters. When we go out to promote investment, investors complain that they have heard that someone has been killed in the country.
“I remember after a journalist was shot and while we were still negotiating with a potential investor from another country, they said they have heard that a journalist has been killed in Lesotho.
“That in itself speaks negatively about the reputation of the country and puts us (LNDC) as an organisation that invites investors at a disadvantage,” Ms Makhakhe said.
“It means the target investor pulls off, sometimes while we are at an advanced stage of negotiations.
“Our work is to bring investments in the country and people are lashing out at us (LNDC) that factories are closing and that we are not bringing investors. But when we go out to hunt for investors, and they (investors) hear negative issues about Lesotho, it impacts on their confidence in the country. Crime decreases investor confidence in any investment location.”
It was therefore every citizen’s responsibility to partake in the building of a good reputation for the county.
“Lesotho should become a country that investors would love to inject their money in and have many tourists coming in….It is everyone’s responsibility to help in achieving that… ” she said.
The Nation Brand project has five pillars; Investment, Trade, Tourism, Patriotism and Buying Local. Ms Makhakhe strongly believes the project will help citizens take pride in their country and want to partake in all activities to improve its image.
“After this project launch, we are going to check whether it has made an impact in terms of improving the image and the reputation of the country…,” she said.
Ms Makhakhe said the Corporation was currently scouting for a Nation Brand signature song. This song is going to be one of the promoting instruments of the project.
“It is a song that has to paint a beautiful picture about Lesotho and influence tourists and investors to visit and invest in Lesotho,” she said.
She encouraged “creative minds” to compose a song and make and submit recordings or video clips to the Corporation on or before 27 January 2024.
Top ten candidates will be selected. Thereafter, three finalists will be picked to produce the final song in collaboration with some of the established local artists.
“We want to come up with a song that appeals to the emotions of our nation and international community. A song that will live forever and narrates the beauty of Lesotho that when people listen to it, they easily see Lesotho with its beautiful mountains and waterfalls.
“This will make it easy for the work of attracting tourists and investors ….The song would have already paved the way and familiarised investors with Lesotho,” she said.
