In August 2020, the Ministry of Trade and Industry in Lesotho issued new regulations to preserve certain businesses for Lesotho Citizens only.
The Ministry of Trade and Industry in Lesotho has issued the following:
The Business Licencing and Registration Act, 2019; and
The Business Licencing and Registration Regulations, 2020.
According to the Act, certain business activities have been reserved for indigenous Basotho nationals only.
As such, 47 business activities have been listed and will be reserved for Basotho only.
To this end, foreigners will need to prove that that they have invested at least M2 million in their businesses to renew their trade licenses.
We have prepared a memorandum pertaining to the Business Licensing and Registration Act setting out the most important considerations.
We would like to encourage dialogue between our clients, various stakeholders and affected persons.
Please do not hesitate to contact us should you have any questions or concerns.