Refiloe Molise
The Ministry of Trade, Industry and Business Development (MTIBD) this week held a roadshow in Quthing aimed at encouraging Basotho to start, formalise and grow their businesses as part of efforts to strengthen the economy.
The engagement forms part of the Ministry’s nationwide outreach programme designed to showcase its services and encourage micro, small and medium enterprises (MSMEs) to utilise available government support.
Delivering opening remarks, Lebohang Khali, representing the Department of Business Development, assured entrepreneurs that the Ministry exists to serve and support them.
“Our purpose of being here in Quthing is to show ourselves and build trust with you. We are here to protect you and provide services for your businesses,” Khali said.
He stressed that the Ministry’s services are not only meant for established businesses but also for aspiring entrepreneurs who have not yet registered their ventures.
“We know there are big and small businesses here in Quthing, but we are not only here for them. We are also here for those businesses that are not yet formed but have to be formed,” he said.
Khali encouraged residents, particularly young people, to embrace innovation and use their creativity to develop new products and services.
“All these buildings around us and the cars we drive exist because someone used their brain to create them. For new things to happen, someone must think of them. Young people, you still have fresh minds. Come with new innovations and let us guide you on the right path. Register your business now,” he urged.
Thapelo Moeti from the Ministry’s trade, cooperation and marketing department outlined the Ministry’s role in ensuring that Basotho products access both local and international markets.
“The work of the Ministry of Trade is to see that Basotho products enter the market inside and outside the country and to ensure that everyone is protected,” Moeti explained.
He said the Ministry works closely with producers to promote local goods, including indigenous products such as lengana and spices, so that they can compete internationally.
“We work together so that our products can reach international markets and compete fairly. We also assess what both local and international markets lack so that Basotho can fill those gaps,” he added.
Speaking on behalf of the Commissioner of Cooperatives, Bokang Makhothi highlighted the role of cooperatives in reducing poverty and creating jobs.
“The aim is to eradicate poverty and create jobs, and we do that by encouraging people to work together through cooperatives,” Makhothi said.
He explained that forming a cooperative requires at least ten members, after which the department assists with registration, guidance and ongoing support.
Makhothi added that producers are also supported to showcase their products locally and internationally, while youth cooperatives are represented through district committees that connect with regional structures within the Southern African Development Community (SADC).
Also addressing the gathering, Mojakisane Motaung explained that the road show aims to educate communities about the Ministry’s broader role beyond business registration.
He said many people associate the Ministry mainly with registering businesses, yet registration also opens doors to funding, training and development opportunities.
Motaung noted that government is implementing priorities outlined in the National Strategic Development Plan (NSDP), which focuses on sectors such as agriculture, tourism, manufacturing, technology and innovation to strengthen the private sector and reduce reliance on government employment.
He said the Ministry of Trade plays a central role in this process because businesses must first be formally registered before they can access government support programmes.
Motaung further highlighted institutions such as the Basotho Enterprise Development Corporation (BEDCO), the Competitiveness and Financial Inclusion (CAFI) programme and the Lesotho National Development Corporation (LNDC) as key partners that support businesses through training, funding opportunities and expansion.
He also encouraged community members to consider forming cooperatives, noting that many development programmes prioritise projects that can create employment for more Basotho.
Motaung also spoke about the Inclusive Growth Fund (IGF), a government initiative supported by the Prime Minister which has allocated M400 million to stimulate private sector growth.
He said 70 percent of the fund is reserved for youth- and women-owned businesses, urging them to take advantage of the opportunity by registering their enterprises.
Summary
- The Ministry of Trade, Industry and Business Development (MTIBD) this week held a roadshow in Quthing aimed at encouraging Basotho to start, formalise and grow their businesses as part of efforts to strengthen the economy.
- “The work of the Ministry of Trade is to see that Basotho products enter the market inside and outside the country and to ensure that everyone is protected,” Moeti explained.
- Motaung noted that government is implementing priorities outlined in the National Strategic Development Plan (NSDP), which focuses on sectors such as agriculture, tourism, manufacturing, technology and innovation to strengthen the private sector and reduce reliance on government employment.
Your Trusted Source for News and Insights in Lesotho!
At Newsday Media, we are passionate about delivering accurate, timely, and engaging news and multimedia content to our diverse audience. Founded with the vision of revolutionizing the media landscape in Lesotho, we have grown into a leading hybrid media company that blends traditional journalism with innovative digital platforms.
