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
History of Lesotho military the following year. His son was installed as King Letsie III. Conditions remained tumultuous, including an August 1994 self-coup by Letsie III, until 1998 when the Lesotho Congress for Democracy (LCD) came to power in elections which were deemed fair by international observers. Despite protests from opposition parties, the country has remained relatively stable since. At some stage during their migration south from a tertiary dispersal area Bantu speaking peoples came to settle the lands that now make up Lesotho as well as a more extensive territory of fertile lands that surround modern day Lesotho. These people spoke a