The Private Sector Foundation of Lesotho (PSFL) is a leading organization representing the interests of the private sector in Lesotho. It acts as an umbrella body for various business associations and individual enterprises, striving to foster a vibrant and competitive business environment. The PSFL’s main role is to advocate for policies that support private sector growth, facilitate dialogue between businesses and the government, and provide services that enhance the capacity and competitiveness of its members.
For investors, the PSFL is significant for several reasons that contribute to a stable investment climate:
- Advocacy and Policy Influence: The PSFL actively lobbies the government on behalf of the private sector, advocating for reforms and policies that improve the ease of doing business, reduce bureaucratic hurdles, and enhance overall investor confidence.
- Strengthening Public-Private Dialogue (PPD) through Framework and MoU: The PSFL is central to Lesotho’s Public-Private Dialogue (PPD) Framework, a platform for private sector-government interaction on policy. In 2024, the PSFL signed a PPD MoU with the Government of Lesotho, formalizing this dialogue to address business challenges and promote economic growth. This collaboration, often with organizations like the LCCI, improves investment environment predictability and transparency by establishing clear communication channels and ensuring broad business representation, including MSMEs.
- Networking and Support: The PSFL offers a valuable network for businesses, facilitating connections, sharing of best practices, and identification of potential collaborations. It also provides information on market trends, investment opportunities, and regulatory updates, enabling investors to make informed decisions.
Through its dedicated advocacy and particularly its leadership in strengthening public-private dialogue (PPD) via the PPD Framework and the formalization of its engagement through the PPD MoU (often in partnership with entities like the LCCI to represent MSMEs), the PSFL plays a pivotal role in creating a predictable, supportive, and attractive investment landscape in Lesotho.