On Why Lesotho Needs a Competition Policy

Competition policy has until recently been a phenomenon of industrialized countries.Changes in the international economic environment in the form of globalization andderegulation have raised the need for developing countries to arm themselves withfunctioning competition regimes in order to benefit fully from the liberalized global economyas well as to protect themselves against anti-competitive practices of foreign firms operatingin their jurisdictions. Developing countries further need competition policies if they are totake advantage of their domestic liberalization, deregulation and privatization policiesprescribed to them by the Bretton Woods institutions. Lesotho is no exception in this regardand the modest analysis carried out herein reveals that the Lesotho industries are highlyconcentrated posing the threat of abuse of dominance