Eight businesses win big

MASERU-EIGHT businesses have won the Standard Lesotho Bank Covid-19 Entrepreneur Support Competition which was launched on September 17. The winners shared M600 000 in prize money. The money will be used to boost their businesses and mitigate against the impact of the Covid-19 pandemic. Denim Printing in Maseru won M75 000, Mofoka Agri-Projects won M45 000, Falimehang General Dealer won M100 000 and Bataung General Dealer won M50 000. Meanwhile, Sibusiso Poultry Farm (Pty) Ltd from Butha-Buthe won M90 650, Hair Lounge and Beauty Clinic won M90 921, Sekamane Farming from Berea won M60 000 and Chembi (Pty) Ltd won M50 000. The bank launched the competition to help Basotho-owned businesses that have been negatively affected by Covid-19 in order to ensure that they keep their businesses open. With the prize money winners are expected to re-stock and revive business activities, and also position themselves for success as economic activities gradually go back to normal. “We are indeed extremely pleased that the competition went smoothly and we were able to demonstrate our resolve to revive hope in our people to say, yes, indeed ‘It can be’ despite the challenges we have faced as a nation,” Manyathela Kheleli, Acting Head of Marketing, said. “This is our contribution to reviving our small and medium enterprises, which remain our only hope for economic growth,” Kheleli said. Kheleli added that this competition is also a celebration of the bank’s silver jubilee, which is celebrated in a way that inspires Basotho to work together to build the Lesotho that we aspire for. “On behalf of the bank, we also extend our appreciation to all the businesses that took part in the competition,” Kheleli said. “Like in any competition, not all could be winners, but we thank you for your efforts,” he said. He added that this year alone, the bank has also spent over M2.4 million in Covid-19 initiatives on entrepreneurship, the health sector and food security. About 182 entries were received throughout the country in the categories of retail, manufacturing, agriculture, services, food supply and infrastructure. The competition, he said, forms part of the bank’s initiatives to bring to life the new brand positioning of ‘It Can Be’, which is premised on how the bank continues to find new ways to make Basotho dreams come true. The competition also doubles as a commemorative event to mark the 25th anniversary of Standard Lesotho Bank. “The prizes in this competition are not a loan, but capital grants that will be monitored to ensure that winning businesses survive the Covid-19 pandemic and grow,” he said. Lemohang Rakotsoane