Mohale Water Park
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Invest in Lesotho’s
Mohale
Water Park
A profitable opportunity to invest in a water leisure park amid the superb scenery of the Lesotho Highlands.
Introduction
Mohale Water Park presents a unique investment opportunity to develop a comprehensive water leisure destination at the scenic Mohale Dam in the Lesotho Highlands.
The Mohale Water Park investment involves developing a comprehensive tourism facility at the Mohale Dam, approximately 2.5 hours east of Maseru. The project comprises four key components:
Water Leisure Park:
Family-oriented aquatic facilities
Lake Cruise Boat:
Scenic tours and experiential tourism
Community Outdoor Centre:
Adventure and educational activities
Fly-Fishing Lodge:
Premium angling experiences
Strategically located near South Africa, the park is positioned to serve both regional tourists and international visitors from Africa, Europe, and North America.
The Mohale Dam, constructed at the confluence of Senqunyane and Likalaneng rivers, is part of the Lesotho Highlands
Water Project.
Strengths & Opportunities
The Mohale Dam, constructed at the confluence of Senqunyane and Likalaneng rivers, is part of the Lesotho Highlands Water Project.
MOHALE DAM IS 145m HIGH and it supplies water to the Gauteng area of South Africa. The lake behind the dam and the Senqunyane river below offer tourists a range of adventure activities including water sports and fishing. The wider area offers hiking, quad biking, pony-trekking and camping.
Market Evidence
Iconic lake-and-highlands setting:
Mohale Dam’s scale and scenery support a compelling mix of water play, family attractions and soft-adventure – ideal for regional weekender traffic and inbound tour packaging.
Access that sells:
Direct JNB-MSU flights keep inbound travel simple; from the airport, Mohale’s 2–3-hour A3 approach is a memorable part of the journey and easy to program for 2-night stays.
Recovery & upgrade cycle:
Sector momentum is positive; official guidance highlights >1 million visitors in 2024, while WTTC’s 2025 research underlines continued travel & tourism expansion – supportive of ADR and ticket-yield growth in nature products.
Policy clarity for operators:
The Tourism Levy is operational (accommodation 1.5% of room rate); the e-Visa system is currently suspended but processed by email—simple to integrate into pricing and guest comms.
Strategic Advantages
Existing Infrastructure – Faster, lower-risk start:
The wider Mohale area benefits from established LHWP road access and services; nearby village assets and utilities enable efficient phasing and operations support.
Scenic Highlands Location – Built-in marketing engine:
Four distinct seasons and luminous skies drive premium photography, longer stays and strong social-media shareability.
Government Support – Clear route to delivery:
Tourism is a national priority, with a live MICE anchor project (5-star hotel plus 1–2k-delegate centre) that will expand Maseru’s events capacity – perfect for Mohale pre/post incentive extensions.
Connectivity:
Global reach via JNB: Moshoeshoe I International Airport (MSU) links directly to Johannesburg (JNB), putting Mohale within one hub-hop of major source markets.
Favorable Labor Market:
82% literacy rate and 90% English proficiency ensure a skilled, cost-competitive workforce.
Existing Structure, Mohale Dam.
Incentives
A low corporate income tax:
• 25% on profits from sales produced in Lesotho
Training:
• Cost of Lesotho citizens allowable at 125% for tax purposes
Withholding tax:
• 10% on service contracts with non-residents
• 25% on dividends distributed from income by resident companies to non-resident shareholders
• No withholding tax on dividends distributed to Lesotho residents
VAT:
• 15% on goods and services sold in Lesotho
• 0% on direct exports
Risk guarantees:
• Partial credit guarantee through the LNDC
Support from the LTDC includes:
• Dedicated tourism special development areas (SDAs)
• Investment facilitation services
• Assistance with permits and licenses
• Assistance with company registration
• Assistance with industrial relations issues
• Appraisal of investment projects
• Assistance with preparation of project briefs for the Environment Impact Assessment (EIA) Certification
Regional Access and Market Integration
Framed by basalt ridges and big-water vistas, Mohale delivers a high-altitude, four-season playground: sunlit summers on the lake, crisp winters for fireside gastronomy and stargazing, and shoulder seasons perfect for trails and pony rides. The Lesotho Highlands Water Project (LHWP) asset – Mohale Dam (145 m) – anchors the destination with a natural lake suitable for non-motorised water sports, guided boating and fly-fishing. Access is honest and sellable: Johannesburg-Maseru by air, then a 2–3-hour scenic drive to the lake via the A3 mountain passes. Maseru is 414 kms (4.5 hours’ drive) by road from Johannesburg, 344 kms (6 hours) from Durban and 685 kms (11.5 hours) from Cape Town.
Beyond the region, Lesotho could be attractive to visitors from the Northern Hemisphere during the Austral summer. Moshoeshoe I International Airport in Maseru is served by direct flights to and from Johannesburg, a major international hub with daily flights to other African countries, Europe, North America and Asia among others. Business-enabling reforms championed by the Government of Lesotho are beginning to bear fruit. Prioritising travel and tourism has resulted in Lesotho’s overall competitiveness ranking moving from 93 to 41. This positions Lesotho to benefit from regional broad-based policies to promote travel and tourism under the African Continental Free Trade Area (AfCFTA). Progress is also being made in improving environmental sustainability. Lesotho was recognised in 2019 as the top scorer in Sub Saharan Africa and 20th globally for Environmental Sustainability in the WEF’s Travel and Tourism Competitiveness Report.
List of investment opportunities
Water Leisure Park (Hero Family Attraction):
Core: heated pools, multi-slide tower, splash pads, lazy river, and toddler zones in a compact, easily managed footprint.
Programmable revenue:
timed entries, cabanas, birthday/event packs, F&B kiosks, photo ops, and evening “light-and-water” shows on peak weekends.
Lake Cruise Boat (Signature Experience):
Offer: 45–90-minute interpretive cruises with sunset/sundowner departures; private charters for incentives and small groups.
Monetisation:
ticketing tiers, onboard F&B, photo packages, and seasonal themed cruises.
Community Outdoor Centre (Skills & Inclusion):
Purpose: equipment rental (kayaks, SUPs, bikes), guide desk, safety training, and local craft retail – integrating community suppliers and youth employment.
Programs:
school camps, trail-running and birding weekends, “learn-to-paddle” clinics.
Fly-Fishing Lodge (Premium Overnight Layer):
Product: intimate lodge with wader-friendly amenities, gear storage/drying rooms, and chef-led local cuisine; guided fly-fishing on lake/river sections (catch-and-release ethics).
Revenue:
room nights + guiding + F&B; off-peak packaging with the water park to smooth seasonality.
Complementary Services:
Adventure Tourism:
Water sports, pony-trekking, and camping facilities.
Corporate Retreats:
MICE facilities leveraging the scenic highland environment.
Educational Tourism:
Environmental and cultural programs at the community center.
Delivery model:
PPP structure with investor-operator designing, financing, developing and running the park and experiences; the public partner facilitates land/permits and destination marketing linkages.
Project Assumption
The project would align with SDGs 1, 8 and 10.
Mohale Dam
NOTE
The financial analysis of the Mohale Water Park tourism investment opportunity is computed over a ten-year period. Revenue and expenditure projections are in line with industry growth prospects and market potential and have been informed by and benchmarked against industry standards and norms. In addition, assumptions relating to inflation; depreciation and salvage value; and company tax, have been worked out based on the existing laws and directives of the country. The figures above represent high level estimates as of January 2021 and are not derived from a full feasibility study. Investors are advised to conduct their own due diligence. There are no specific investment incentives for the tourism sector in Lesotho, except for the MICE sub sector.
Disclaimer
This web page provides a strategic overview. All financial figures are based on a high-level investment opportunity model and should be used as an indicator of potential only. Investors are strongly encouraged to conduct independent due diligence and a full feasibility study with the support of the LTDC to validate all assumptions under current market conditions.