Monday, December 4, 2023
30.5 C
Maseru

Machesetsa vows to boost small businesses

Business

Mohloai Mpesi

The new Minister of Small Business Development, Cooperatives and Marketing, Machesetsa Mofomobe has vowed to enhance the small business sector during his tenure in office.

Mofomobe said this after his inaugural ceremony that was held at the Royal Palace on Wednesday alongside TÅ¡eliso Kalake who was inaugurated as Deputy Minister of Foreign Affairs and International Relations.

Mofomobe who steps in after, Thesele ‘Maseribane who was consigned to marshal the embassy of Lesotho in Italy last month promised to take the struggling sector off its feet.

“The major role that I am going to work on is the business sector that has slipped from the hands of Basotho to the foreigners. When I grew up, the business was in the hands of Basotho but has been taken by the foreigners and we have to find strategies to take it back to our local people,” Mofomobe said.

“When that happens it means that the economy of the country will be in the hands of Basotho because when the foreigners make profits, they erode the monies to take it to their own countries,” he said.

He said he is going to ensure that the street vendors are given funds to ensure that their businesses thrive and reach their full potential, pointing that registered corporations will ease the process and enable the small businesses to attain funding and loans from banks.

“The other major thing is about the corporation entities and how hard we can set them to work hard because people can make cooperatives in their villages but if such entities are not done lawfully and registered they will not prosper because they will be unable to take loans from banks. So we have to work hard to ensure that they flourish.

“During this time of year where there are strong winds, street vendors experience hardships of life, their products get dusty and lose buyers. So we have to help them so that their businesses thrive.

“It is the responsibility of government to help small businesses to survive from the small scale to the bigger one. It is therefore my assignment when I get into office to make that happen and I cannot do it alone because I will need support from the Prime Minister and if he accepts my strategies we will manage to execute such strategies,” he said.

On the other hand, the new Deputy Minister, Kalake said he is going to buttress the already laid-out plans at the Ministry, citing that he already knows about the ministry as he was monitoring it during his tenure in the National Assembly’s Prime Minister’s Ministries Portfolio Committee.  

“My duty is to deputize the Minister at the ministry, there are mandates and plans already in place, there are civil workers and mine is to contribute on what is already in place.

- Advertisement -spot_img
- Advertisement -spot_img

Latest article

Send this to a friend