The U.S. Embassy in Maseru hosted a celebration yesterday for the approval of the Convalt Memorandum of Agreement, launching the Kobong project — a $6.2 billion (100 billion maloti) investment in hydropower and AI data center infrastructure. It is the largest foreign investment in Lesotho's history. The event was attended by Minister of Energy and Mining Lejone Mpotjoane, Minister of Information, Communications, Science, Technology and Innovation Nthati Mootosi, and Ministry of Environment and Forestry Thabo Mofosi, as well as other government officials, heads of diplomatic missions, and business leaders.
"This is trade over aid," said CDA Thomas Hines. "This is a U.S. company choosing to back Lesotho — its people, its resources, and its potential. That is confidence."
Convalt CEO Hari Achuthan credited the Trump administration's approach to engaging African nations for helping advance the project. "The Trump administration's emphasis on trade and private-sector investment, rather than relying primarily on grant funding, is closely aligned with our approach in Africa," Achuthan said. "The transaction would involve approximately $6.2 billion of capital investment in Lesotho, supporting major infrastructure development, local employment, skills development, and long-term stable job growth derived from stable long-term cash flows."
Once complete, the project will transform Lesotho from an electricity importer into a regional exporter, offering manufacturers access to affordable power and a skilled workforce. It would also position Lesotho as a hub for digital infrastructure, serving technology companies at the center of the global AI revolution. Lesotho's climate, abundant land and water, energy potential, and stable democratic government make it the premier data center location.
The U.S. Embassy facilitated introductions between Convalt and key decision- makers in the Government of Lesotho, reflecting its commitment to commercial diplomacy. The Kobong project is one of $7.3 billion in commercial partnerships the Embassy has advanced over the past 18 months.
American business investment benefits Lesotho and American companies conduct required environmental and social studies, hire locally, and adhere to the rule of law — reflecting the standards the United States brings to its international partnerships.
As the United States marks its 250th anniversary, the Kobong project reflects the nation's founding ideals: opportunity, innovation, and growth through theresponsible use of resources.
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