Another M1m invested to nurture youth-led businesses

THE Bacha Entrepreneurship Project (BEP) has grown beyond being just a funding initiative into a platform where ideas are nurtured, potential is recognised, and the future of Lesotho’s economy is being reshaped by young innovators with bold ambitions.

This according to Revenue Services Lesotho (RSL) Acting Commissioner, Rakokoana Makoa, who said the five youth-led businesses awarded approximately M200 000 each reflect not only achievement, but the courage it takes to start, persist, and build ventures that serve both communities and the country. The five were awarded at an event held at Victory Hall on Thursday.

BEP is a collaborative initiative of the RSL, the Basotho Enterprises Development Corporation (BEDCO) and Standard Lesotho Bank (SLB). Speaking at the BEP award ceremony, Mr Makoa said the platform has brought together partners, supporters and dreamers who share one goal: empowering Basotho enterprises to thrive.

SLB Head of Business and Commercial Banking, Keketso Makara, described youth unemployment as one of Africa’s biggest socio-economic challenges.

Citing African Development Bank statistics, he said more than one-third of African youths remain unemployed, with some countries recording rates exceeding 50%.

This year’s five funded enterprises are 90 Degrees Restaurant by Molebatsi Rampine from BothaBothe; Nutri Rosa Pty Ltd by Mahase Thakane from Berea; Fungi Farms by Mahloko Reithabetse from Maseru; Kiddies Pre-School by Jafeta Rosalea from Mafeteng; and Letata Vegetable Farm by Letata ‘Mamotsamai from Botha-Bothe.