GROUNDUP: Lesotho’s biggest foreign investment deal under scrutiny over minister’s stake in potential partner
Lesotho Public Works Minister Matjato Moteane is a shareholder in a local firm the government plans to invite to participate in a $6.2-billion agreement with US-based Convalt Energy to build a hydropower plant and AI data centre.
Lesotho's Public Works Minister Matjato Moteane is implicated in controversy surrounding a $6.2-billion investment deal with US-based Convalt Energy. The Kobong Project, which aims to build a hydropower plant and AI data centre, has raised concerns about a potential conflict of interest due to Moteane's stake in Sekhametsi Investment Consortium.
Moteane, who holds 1,817 shares valued at approximately M27-million, may profit from the project while providing no benefits to citizens. While Moteane claims to have declared his interest to the cabinet, his recusal during the discussion of the deal remains unverified. The government's involvement in selecting local partners for the project has also raised questions about transparency and fairness.
Written by urgent.news from Daily Maverick's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
