The National Flea Market initiative has generated an estimated M5 million in direct revenue in just one year, marking a significant milestone for grassroots economic development and local entrepreneurship.
Since its launch in 2024 by Prime Minister Ntsokoane Samuel Matekane, the monthly flea market exhibitions have each generated an estimated M450,000, providing a vital income stream for small and medium enterprises (SMEs) across the country.
The initiative is led by the Ministry of Trade, Industry, and Business Development.
The financial achievement was celebrated on Saturday during the market’s first anniversary event in Maseru, where hundreds gathered to mark a year of economic momentum driven by local innovation and enterprise.
Speaking at the celebration, Minister of Trade, Industry and Business Development Mokhethi Shelile thanked the Prime Minister for his unwavering support in turning the Basotho flea market into a thriving platform.
“I urge all entrepreneurs to strive in producing quality products so they could sell them locally and internationally. This is our time to make our own markets,” Shelile said. He emphasised the importance of collaboration and innovation, noting that the market has also become a space for entrepreneurs to share ideas and improve their craft.
In his keynote address, Prime Minister Matekane reflected on the success of the initiative, calling it a “mirror to reflect the culture, potential, and creativity of Basotho.” He proudly announced that over 4,000 entrepreneurs had exhibited their goods since the market’s launch, and the impact has been tangible
“Countless families have been uplifted, their ideas have become brands, and they have become entrepreneurs. This is what happens when the government, private sector, and citizens work together,” Matekane said.
The Prime Minister also highlighted plans for the future, revealing that a permanent space for the flea market has been secured in Lower Thetsane. Once complete, it will host exhibitions every weekend, providing a consistent and accessible space for business activities.
“This market is one of the key initiatives through which we are preparing Basotho for international markets by first celebrating and consuming our local products with pride,” Matekane declared. “One day, Lesotho’s products will be ranked number one in Africa.”
With continued government support and entrepreneurial spirit, the initiative promises even greater strides in building a home-grown economy that empowers Basotho by Basotho.
Seabata Mahao is a general news reporter with special focus on Business and Sports. Started working at Newsday in 2021. Working in a team with a shared goal is what I enjoy most and that gives me the motivation to work under any environment leading to growth.
