Lesotho, formally the Kingdom of Lesotho, is a landlocked country in Southern Africa. As an enclave of South Africa, with which it shares a 1,106 km border, it is the only sovereign enclave in the world outside of the Italian Peninsula. It is situated in the Maloti Mountains and contains the highest peak in Southern Africa. It has an area of over 30,000 km2 (11,600 sq mi) and has a population of about 2 million. Its capital and largest city is Maseru.
Telecommunications in Lesotho include radio, television, print and online newspapers, fixed and mobile telephones, and the Internet.
Lesotho's geographic location makes it extremely vulnerable to political and economic developments in South Africa. Its capital is the small city of Maseru. It is a member of many regional economic organizations including the Southern African Development Community (SADC) and the Southern African Customs Union (SACU). Lesotho also is active in the United Nations, the Organisation of African Unity, now the African Union, the Non-Aligned Movement, and many other international organizations. In addition to the Republic of Korea, the United States, South Africa, Ireland, People's Republic of China, Libya, and the European Union all currently retain resident diplomatic missions in Lesotho. Foreign relations of Lesotho are administered by the Ministry of Foreign Affairs and International Relations.
Maseru is the capital and largest city of Lesotho. It is also the capital of the Maseru District. Located on the Caledon River, Maseru lies directly on the Lesotho–South Africa border. Maseru had a population of 330,760 in the 2016 census. The city was established as a police camp and assigned as the capital after the country became a British protectorate in 1869. When the country achieved independence in 1966, Maseru retained its status as capital. The name of the city is a Sesotho word meaning "red sandstones".
The Australian dollar is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu. As of 2022, it is the sixth most-traded currency in the foreign exchange market and also the seventh most-held reserve currency in global reserves.
Bethuel Pakalitha Mosisili is a former Mosotho politician who was the fourth prime minister of Lesotho from May 1998 to June 2012 and again from March 2015 to June 2017. He led the Lesotho Congress for Democracy (LCD) to a near-total victory in the 1998 election, and under his leadership the party also won majorities in the 2002 and 2007 elections. While serving as Prime Minister, Mosisili was also Minister of Defence.
The National University of Lesotho, the main and oldest university in Lesotho, is located in Roma, 34 km (21 mi) southeast of Maseru, the capital of Lesotho. The Roma valley is broad and is surrounded by a barrier of rugged mountains which provides magnificent scenery. The university enjoys a temperate climate with four distinct seasons. The governing body of the university is the council and academic policy is in the hands of Senate, both Council and Senate being established by the Act.
The savings and loan crisis of the 1980s and 1990s was the failure of 32% of savings and loan associations (S&Ls) in the United States from 1986 to 1995. An S&L or "thrift" is a financial institution that accepts savings deposits and makes mortgage, car and other personal loans to individual members.
Thomas Motsoahae Thabane is a Mosotho politician who was the fifth prime minister of Lesotho from 2012 to 2015 and from 2017 to 2020. He founded the All Basotho Convention (ABC) in 2006 and led the party until 2022.
The Loti is the currency of the Kingdom of Lesotho. It is subdivided into 100 lisente. It is pegged to the South African rand on a 1:1 basis through the Common Monetary Area, and both are accepted as legal tender within Lesotho. The loti was first issued in 1966, albeit as a non-circulating currency. In 1980, Lesotho issued its first coins denominated in both loti and lisente to replace the South African rand, but the rand remains legal tender.
Lesotho elects a legislature on the national level. The Parliament has two chambers: the National Assembly with 120 members, elected for a five-year term by Mixed Member Proportional Representation, 80 of which in single-seat constituencies; and the Senate, with 33 nominated members.
Nedbank Group is a financial services group in South Africa offering wholesale and retail banking services as well as insurance, asset management, and wealth management. Nedbank Limited is a wholly owned subsidiary of Nedbank Group.
Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. It is India's third largest private sector bank by market capitalisation after HDFC Bank and ICICI Bank. As of 31 March 2023, the bank has a national footprint of 1,780 branches and 2,964 ATMs.
The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1982. It is widely considered to have been the most severe recession since World War II until the 2007–2008 financial crisis.
The Bank of Algeria is the central bank of Algeria. The bank is located in Algiers and its current governor is Salah Eddine Taleb. It was established following Algerian independence in 1962 to take over the former activities in the country of the Banque de l'Algérie, the colonial central bank of French Algeria.
Centenary Bank is a commercial bank in Uganda licensed by the Bank of Uganda, the central bank and national banking regulator.
Sudhir Ruparelia is a Ugandan business magnate and investor. He is the chairman and majority shareholder in the companies of the Ruparelia Group. His investments are mainly in the areas of banking, insurance, education, broadcasting, real estate, floriculture, hotels, and resorts.
FirstRand Limited, also referred to as FirstRand Group is the holding company of FirstRand Bank, and is a financial services provider in South Africa. It is one of the financial services providers licensed by the Reserve Bank of South Africa, the national banking regulator.
Moeketsi Majoro is a Mosotho economist and politician who served as the sixth prime minister of Lesotho from May 2020 to October 2022. He was previously the minister of Finance in the cabinet of Tom Thabane from 2017 to 2020. Majoro has been representing the Thetsane Constituency No. 33 in the National Assembly since his election in 2017. He was formerly a senator and the minister of Development Planning from 2013 to 2015. Majoro is a member of the All Basotho Convention (ABC).
Banking in Syria is controlled by the Central Bank of Syria which also controls all foreign exchange and trade transactions. All commercial banks in Syria were nationalised in 1966. The Central Bank gives priority to lending to the public sector, while the private sector often banks abroad, a process that is more expensive and therefore a poor solution to industrial financing needs. Many business people travel abroad to deposit or borrow funds. It is estimated that US$6 billion has been deposited by Syrians in Lebanese banks.
