Nigerian investors are being urged to relocate their businesses from South Africa to Lesotho amid rising xenophobia, according to a recent call from the Prime Minister of Lesotho. The appeal comes as tensions continue to escalate in South Africa, where foreign nationals, particularly from Nigeria, have faced increasing hostility and violence.
The Prime Minister of Lesotho, along with officials, has promised 100% repatriation of capital for businesses that relocate to the country, aiming to attract Nigerian investment in a more stable environment. This initiative follows reports of attacks on Nigerian communities in South Africa, prompting concerns over safety and security for foreign entrepreneurs.
Lesotho, a landlocked country in Southern Africa, is positioning itself as a viable alternative for Nigerian businesses seeking to avoid the growing xenophobic climate. The government has emphasized its commitment to creating a welcoming business environment, offering incentives and support to foreign investors.
The move highlights the growing impact of xenophobia on international business relations in the region, with Nigerian investors now considering alternative destinations for their operations. (thisdaylive.com)
