50 youth projects win M100k cash

MASERU – FIFTY small businesses owned and run by the youth were awarded M100 000 each last night.
The youths participated in the Standard Lesotho Bank, the Basotho Enterprise Development Corporation (BEDCO) and the Lesotho Revenue Authority (LRA)’s latest phase of the Bacha Entrepreneurship Project (BEP).

The project is meant to create business opportunities for the youths so that they create jobs, reduce poverty and social vulnerability.
Speaking at a ceremony to present the awards, Small Business Development Minister Machesetsa Mofomobe urged the youths to use the funds appropriately.

“Take really good care of it so that it can be beneficial to the country’s economy,” Mofomobe said.

India Penane, the CEO of BEDCO, said the youths should start businesses and make them sustainable.
She said they are filling the poverty gap.

”A lot is expected from you,” Penane said.

“You should stay strong,” she said.

She further encouraged those who participated but did not win not to lose hope but to keep looking for more opportunities that are coming.
’Makali Nathane, the deputy manager of Economy Diversification and Sustainability Project (EDSP), said they support the government’s efforts to create jobs for the youths.

Nathane said the focus on this project is on youths, especially women.
She said most of the businesses are managed by men so the project promotes women who are interested in entrepreneurship.

“The project’s purpose is to motivate people who want to start businesses,” Nathane said.

She said the focus is on the manufacturing sector, agriculture and tourism to promote enterprise development in different districts.
Lemphane Lesoli, the head of Enterprise Development at BEDCO, said “the money is meant for you to create jobs and help Lesotho overcome poverty”.

“You are one of a few people who are meant to improve the economy of this country,” Lesoli said.

“The marathon has started and I hope your shoulders are strong enough to do the hard work that awaits you,” he said.

The BEP competition saw 200 contestants selected from a 1 000 that applied but failed to make it to the shortlist.
Lesoli said the 200 were tested to see if they could meet the expected business intelligence.

He said 145 were then nominated and “this was not done through favouritism but out of their hard work”.

“This was ensured where their works were proofed and checked,” he said.

“Then finally 50 of them won.”

He said they will assign to the winners people who will guide then and teach them more about entrepreneurship.
One of the winners, Montši Montši who owns a company called Agrivest, thanked BEDCO for the opportunity which he said could change their lives.

“I believe the future of this country lies in the hands of the youths,” Montši said.

“I promise to start with producing 17 000 heads of cabbage to sell countrywide,” he said.

“This seemed too good to be true but I am more than honoured to experience it today.”

Sebabatso Mothabeng and Zahidah Lekhooa