Partner risk indices

Country Risk Index

59.6

Political Risk Index

50.3

Short-Term Economic Risk Index

61.9

Long-Term Economic Risk Index

63.8

Operational Risk Index

65.6

Source: Partner Research Partner, as of 8 Nov 2026. 0-100, higher means higher risk.

Key indicators

Market overview

• Lesotho is in Southern Africa and is classified by the World Bank as Lower middle income. (World Bank)
• Population: 2.4 million (2025). (World Bank WDI)
• GDP: US$2.8bn in 2025 (estimate). (IMF WEO)

Economic conditions

• Real GDP growth: 1.5% in 2025 (estimate); the IMF projects 1.1% for 2026. (IMF WEO)
• Average consumer price inflation: 4% in 2025 (estimate); projected 4.6% for 2026. (IMF WEO)
• General government gross debt: 49.4% of GDP in 2025 (estimate). (IMF WEO)
• Current account balance: -1.2% of GDP in 2025 (estimate). (IMF WEO)
• Government net lending/borrowing: 4.9% of GDP in 2025 (estimate). (IMF WEO)
• Official exchange rate averaged 17.89 local currency units per US dollar in 2025, against 18.45 in 2023: 3% more units per dollar fewer (the currency strengthened against the dollar). (World Bank WDI)

Key risks

• Partner risk indices (0-100, higher = higher risk), as of 8 Nov 2026: Country Risk Index 59.6 (rank 36 of 53 in Africa, 1 = lowest risk); Political Risk Index 50.3 (rank 21 of 53 in Africa, 1 = lowest risk); Short-Term Economic Risk Index 61.9 (rank 43 of 53 in Africa, 1 = lowest risk); Long-Term Economic Risk Index 63.8 (rank 46 of 53 in Africa, 1 = lowest risk); Operational Risk Index 65.6 (rank 27 of 53 in Africa, 1 = lowest risk). (Partner Research Partner)
• Highest-scoring Partner risk component: logistics risk (81.3, operational). (Partner Research Partner)
• World Bank governance scores (2025, 0-100, higher is better): control of corruption 43; government effectiveness 39; political stability and absence of violence 65; rule of law 51; regulatory quality 47. (World Bank WGI)
• External debt stocks: 63% of GNI (2025). (World Bank WDI)
• Unemployment (modelled ILO estimate): 16.3% of labour force (2025). (World Bank WDI)

Investment considerations

• Foreign direct investment, net inflows: 1.3% of GDP (2025). (World Bank WDI)
• Domestic credit to the private sector: 24.3% of GDP (2024). (World Bank WDI)
• Bank lending interest rate: 11.2% (2024). (World Bank WDI)
• Trade (exports plus imports): 154% of GDP (2025). (World Bank WDI)
• The Meridian holds 108 published records tagged to Lesotho. (The Meridian)

Sector snapshot

• Energy and power: access to electricity 60.6% of population (2024); renewable share of final energy consumption 34.9% (2022). (World Bank WDI)
• Mining and minerals: mineral rents 0% of GDP (2021); ores and metals exports 1.5% of merchandise exports (2024). (World Bank WDI)
• Financial services: foreign direct investment, net inflows 1.3% of GDP (2025); bank lending interest rate 11.2% (2024). (World Bank WDI)
• Technology, media and telecoms: internet users 51.8% of population (2024); mobile subscriptions 70.3 per 100 people (2024). (World Bank WDI)
• Agriculture: agriculture, forestry and fishing, value added 6.5% of GDP (2025); employment in agriculture 30.9% of employment (2025). (World Bank WDI)
• Manufacturing and industry: manufacturing, value added 12.1% of GDP (2024); industry (including construction), value added 25.2% of GDP (2025). (World Bank WDI)
• Infrastructure and real estate: urban population 44.7% of population (2025); access to electricity 60.6% of population (2024). (World Bank WDI)

Data limitations and sources

• Older data, shown with its period and not described as current: Renewable share of final energy consumption (Latest published value is for 2022); Oil rents (Latest published value is for 2021); Mineral rents (Latest published value is for 2021).
• IMF figures for the most recent year are IMF estimates and later years are projections. World Bank series typically lag by one to two years. Headlines come from automated news monitoring and are not verified by The Meridian.
• Sources last checked 15 Nov 2026.

Meridian transactions

• Solar Industries India acquires Omnia Holdings for R21.8 billion
• African Development Bank Group invests USD 15 million in Biologicals and Vaccines Institute’s (Biovac) operations in South Africa
• Renew Capital invests in Oze’s operations in Africa
• West International New Building Materials acquires AfriSam Holdings for R2.5 billion
• The Beverage Company’s Acquisition of Twizza’s Operations in South Africa for R2.1 billion
• Nedbank Private Equity’s Minority Stake Investment in Waco International Holdings’ Operations in Africa