Economy of Lesotho maloti (M) per US$1 – 7.32 (2010), 6.10948 (1999), 3.62709 (1995); note - the Basotho loti is at par with the South African rand Economy of Lesotho Lesotho is geographically surrounded by South Africa and economically integrated with it as well. The economy of Lesotho is based on agriculture, livestock, manufacturing, mining, and depends heavily on inflows of workers’ remittances and receipts from the Southern African Customs Union (SACU). The majority of households subsist on farming. The formal sector employment consist of mainly the female workers in the apparel sector, the male migrant labor, primarily miners in South Africa for
Geology of Lesotho the Lower Karoo which hosts the coal seams does not outcrop in Lesotho. The country has quarrying of Quaternary clay deposits, Drakensberg Group fine-grained basalts and sandstones in the Elliot, Molteno and Clarens Formations. Geology of Lesotho The geology of Lesotho is built on ancient crystalline basement rock up to 3.6 billion years old, belonging to the Kaapvaal Craton, a section of stable primordial crust. Most of the rocks in the country are sedimentary or volcanic units, belonging to the Karoo Supergroup. The country is notable for large fossil deposits and intense erosion due to high rainfall and a rare