Mohale FM
Former minister and economist Tsoinyane Rapapa has encouraged Basotho to consider investing in property, particularly in government-owned real estate that may soon be put up for sale.
His remarks follow a report presented by the Ministry of Foreign Affairs and International Relations (Lesotho) before parliamentary committees, which revealed that government buildings owned in South Africa are not generating sufficient income. As a result, the government is considering selling some of these properties.
According to the ministry’s Director of Finance, Mamatle Nkuana, the buildings were rented out after they were no longer in use. However, the revenue generated from renting them has been lower than the costs required for their maintenance and repairs.
Rapapa noted that property remains one of the most valuable forms of investment. He therefore encouraged Basotho to take advantage of the opportunity should the properties be placed on the market, emphasizing that real estate investment can provide long-term financial benefits and lasting ownership.
Reports indicate that the Lesotho government owns about four estates in South Africa.
However, these are not the only properties held abroad, as the country also owns buildings in several nations where it maintains diplomatic missions.
Tenants currently occupying the buildings in South Africa have reportedly been issued contracts informing them about the measures being considered to improve the income generated from these properties.
