The government of Lesotho is set to develop the Currency and Exchanges Bill as part of its efforts to modernize exchange controls and support economic growth. This initiative was revealed during the 2025/26 budget presentation last Wednesday, where the Minister of Finance and Development Planning, Dr. Rets’elisitsoe Matlanyane, highlighted the urgent need for reform.
Dr. Matlanyane emphasized that Lesotho’s current exchange control regime is outdated and has posed significant challenges in facilitating the smooth transfer of funds between the country and international markets. She noted that updating these controls is crucial for fostering a more efficient and globally competitive financial system.
“Our vision remains anchored in achieving fiscal sustainability while promoting inclusive growth for the nation,” she stated. She further explained that at the core of the government’s fiscal strategy is a strong commitment to reducing dependence on the volatile Southern African Customs Union (SACU) revenues, which have historically played a major role in Lesotho’s economy.
According to Dr. Matlanyane, transforming the financial landscape of Lesotho requires bold and decisive measures. By implementing the Currency and Exchanges Bill, the government aims to create a more conducive environment for investment, trade, and financial transactions, ultimately contributing to the country’s long-term economic stability.
This initiative marks a significant step towards modernizing Lesotho’s financial sector and ensuring that it aligns with global best practices. The reforms are expected to enhance economic resilience and provide new opportunities for businesses and individuals seeking to engage in cross-border financial activities.
