Lesotho has partnered with Apollo Foundation to effectuate its goal of implementing Blockchain technology across various government departments and initiatives. The partnership was announced in an MOU that will enable Apollo to provide the technical support that will allow the Southern African nation to achieve its technological goals.
Objectives of the Partnership
Representing Lesotho in this agreement is the country’s Ministry of Communications, Science and Technology. It is an arrangement that will enable the parties involved to achieve the following objectives:
- Creation of new wealth in the private sector by harnessing Apollo fintech solutions
- Design and implementation of new government systems
- Reduction in financial crime
- Maximisation and commercialisation of the nation’s mineral wealth
- Eradication of challenges like unemployment, poverty and educational constraints
According to Apollo’s Director of Business Development, Steve McCullah, Lesotho’s quest to be a hub of technology is possible through this partnership with his outfit. McCullah says:
“Lesotho is working to become a leader in technology, and we are confident Apollo can help accomplish this mission.”
Lesotho’s Untapped Opportunities
Lesotho is a nation that is geographically located in the southern part of the African continent. It has a population of 2.2 million people, the majority of whom are youths.
A lot of opportunities within the nation have remained untapped; this is the main focus of this partnership. By collaborating with Apollo, Lesotho intends to unlock such opportunities in the export-import sector, remittances from workers, and the mining and trade of diamonds.
Apollo will provide the necessary tools that are needed to facilitate government processes in the various sectors, especially in cross-border remittance payments. The commercialisation and trade of mineral wealth is also another critical area, especially with diamonds.
The Apollo Foundation
Apollo, on the other hand, boasts of having the fastest Blockchain in the world. This Blockchain is powered by the underlying APL token, which represents an all-in-one currency for facilitating transactions within the ecosystem.
The platform intends to deploy all the necessary tools to provide tailor-made solutions for the Lesotho government. This development puts Lesotho on a prominent platform among the nations that have officially embraced Blockchain technology.
It is a technology that is considered to provide the capacity to help a growing nation leapfrog over traditional barriers. Moreso, it is a panacea for developing nations to catch up with the developed world in terms of opportunities and development.