Mathatisi Sebusi
CLERK to the National Assembly, Fine Maema, has, on behalf of parliament, directed the Ministry of Trade, Industry and Business Development, to implement the controversial business indigenisation regulations banning foreigners from 47 economic sectors “with immediate effect and without alteration”.
Adv Maema wrote to Minister of Trade, Industry and Business Development, Mokhethi Shelile, on 23 May 2024 directing him to ensure that his ministry, operationalise the Business Licensing and Registration Regulations of 2020 without any further delays.
He gave the minister a month to report back on the implementation of the regulations.
In his letter, Adv Maema informed the minister that he had been mandated by the National Assembly to remind him to implement the regulations. He said the National Assembly had on Friday 17 May 2024 debated and adopted a motion that the regulations be implemented forthwith.
The regulations aim to ban foreigners from 47 business sectors reserved for Basotho. Minister Shelile has been sceptical of the regulations because of their potential backlash on Lesotho. But MPs seem to want to push them to mollify their constituents.
A protest had been planned last week to push the government to implement the regulations. It did not proceed after the police banned it.
Speaking to the Lesotho Times this week, Motlere Thobi, a representative of the indigenous businesspeople, said they wanted the regulations implemented immediately.
He demanded that the trade ministry begins withdrawing licences of foreign businesses in the sectors reserved for Basotho.
Implementation of the draconian regulations is however expected to harm Lesotho’s reputation as an investment destination. Investors are generally warry of investing in places where their investments can be arbitrarily withdrawn as sought by these controversial regulations.
Efforts to solicit a comment from Minister Shelile before going to print last night failed.
