Christopher Aleo defends Lesotho: 'A strategic resource for Africa and the world'

Gulf Today

26-03-2025

Swiss-Italian financier and entrepreneur Christopher Aleo, founder and CEO of iSwiss Bank, has spoken out forcefully in defense of the Kingdom of Lesotho following controversial remarks by former US President Donald J. Trump, who recently dismissed the southern African country as 'a place nobody's ever heard of.'
Aleo's response, however, was anything but dismissive. 'While I fully recognize the significant role President Trump has played in shaping global discussions, his recent statement regarding Lesotho is a misstep — both politically and strategically,' Aleo said. 'At a time when the world is looking more and more to Africa for its future, it is not only unwise but deeply short-sighted to underestimate a country like Lesotho.'
Lesotho's Role in a Changing Global Landscape
Often overlooked on the geopolitical map, Lesotho is a landlocked, mountainous country entirely surrounded by South Africa. Despite its modest size, it plays a disproportionately important role in southern Africa's water security, energy supply, mineral exports, and regional industrial stability.
'Lesotho provides nearly 50% of the potable water used by South Africa's industrial and residential sectors,' Aleo noted.
'Its water infrastructure is of regional significance. Its highlands are rich in diamonds and other rare minerals — many of which are vital to advanced technologies highly sought after by global powers, including the U.S. itself.'
But Aleo emphasizes that Lesotho's real power lies in its human capital. 'It is a country of young people with energy, ideas, and a growing sense of agency. It's time we look at countries like Lesotho not as aid recipients, but as rising economic partners.'
iSwiss Bank's Vision: Long-Term, Inclusive, Green
Under Aleo's leadership, iSwiss Bank has made Lesotho a central pillar in its Africa strategy, officially launching operations in Maseru in 2024. The bank's mission is to act as both a provider of modern financial tools and as a conduit for global investment into projects with high impact and local benefit.
'Our focus is not speculative,' Aleo emphasized. 'We're here to stay. We are building systems — not just making transactions.'
Key iSwiss initiatives in Lesotho include:
The launch of a large-scale photovoltaic solar park, the first of its kind in southern Africa, funded entirely through an innovative energy securitization model managed by iSwiss Hedge Fund;The development of a Free Economic Zone, designed to attract international investors through favorable regulatory frameworks and infrastructure;Investments in the textile sector, one of Lesotho's most dynamic industries, with a goal of enhancing value-added production and boosting job creation;Support for diamond sector modernization, including in-country cutting and polishing facilities to retain more wealth locally.
In addition to economic initiatives, iSwiss is also focusing on financial inclusion and youth empowerment by partnering with universities, incubators, and NGOs to deliver training, access to capital, and microcredit services for young entrepreneurs.
Cooperation with Leadership and Institutional Reform
Aleo also enjoys a close working relationship with Lesotho's President, Sam Matekane, whom he describes as 'a visionary and reform-minded leader with a pragmatic approach to growth.'
'The government of Lesotho has shown that it's serious about becoming a modern, connected economy,' Aleo said. 'They're not just asking for help; they're building the conditions for partnerships.'
The Free Economic Zone initiative is seen as one of the most ambitious projects in the country's recent history, and could serve as a blueprint for other African nations seeking to attract private capital while preserving national sovereignty. Already, neighboring countries have begun inquiring about the iSwiss model, according to Aleo.
Changing the Narrative on Africa
Beyond the specifics of Trump's comments, Aleo believes the real issue is how Africa is still perceived by many global leaders and institutions. 'For too long, the continent has been cast either as a place of need or a resource to be extracted. That binary thinking is obsolete. Africa is diverse, dynamic, and essential to solving global challenges — from climate resilience to food security and energy.'
He calls for a reorientation of international business mindsets: 'Africa is not just the next market; it is already shaping the next phase of globalization. Ignoring that is not just disrespectful — it's a strategic mistake.'
Looking Ahead
As part of iSwiss Bank's long-term plan, Aleo intends to double the group's operational presence in Lesotho by the end of 2025, expand into new sectors including agritech and logistics, and continue building bridges between African innovation and European capital.
'Investing in Lesotho today means investing in a future of cooperation, resilience, and shared prosperity,' Aleo concluded. 'We're proud to be part of this journey, and we invite others — from the public and private sectors alike — to do the same.'