The Bacha Entrepreneurship Project (BEP) has launched its 2026 edition with a reduced funding allocation of M1 million, down from the M1.4 million that was announced for the 2025 cohort, raising questions about the programme’s financial trajectory despite its growing importance in addressing Lesotho’s youth unemployment crisis.
The entrepreneurship initiative, jointly implemented by the Basotho Enterprise Development Corporation (BEDCO), Revenue Services Lesotho (RSL) and Standard Lesotho Bank (SLB), officially opened applications on July 1, with organisers urging unemployed young Basotho to seize the opportunity to become job creators rather than job seekers.
Applications will close on August 28, 2026, with the programme targeting Basotho aged between 21 and 35 who have completed the Cambridge Overseas School Certificate (COSC), Lesotho General Certificate of Secondary Education (LGCSE) or higher qualifications and are currently unemployed.
Although this year’s funding has been reduced by approximately 29 percent from the previous year’s allocation, the partners say the programme remains committed to nurturing viable businesses capable of contributing to Lesotho’s economic growth.
A total of M1 million has been earmarked to finance successful business proposals, while an outreach campaign covering all ten districts will run from July 13 in Mafeteng to August 7 in Maseru to encourage applications from aspiring entrepreneurs.
The project, established in 2014 as a corporate social responsibility initiative, has become one of Lesotho’s flagship youth enterprise development programmes.
According to the organisers, the initiative has invested approximately M10.4 million in seed capital over the past 12 years, supporting the establishment of 38 businesses across various sectors of the economy. Those enterprises have created more than 200 jobs while maintaining a reported 71 percent business survival rate.
Speaking during the launch in Maseru, RSL Head of Strategic Partnerships and Public Relations PhelloMphana described the programme as an investment in people rather than simply funding businesses.
“At RSL, our mission is to mobilise revenue for national development. But revenue grows where innovation and entrepreneurship thrive,” Mphana said.
He said the project seeks to remove barriers that prevent many young Basotho from accessing finance, business skills and professional networks.
“Too many young Basotho are held back by a lack of access, whether to funding, skills or networks. With this project, we say: No more. We are investing in dreams.”
He added that the three institutions intended to remain long-term partners in the entrepreneurs’ growth journey.
“This is your moment. We are walking this journey with you, not just as sponsors, but as partners in purpose and progress.”
BEDCO Executive Head of Enterprise Development,Lemphane Lesoli said the programme goes beyond financial support by equipping entrepreneurs with practical business skills before funding decisions are made.
“We will be selecting 50 applicants for an intensive training programme. From these, the top five will receive financial support and three years of dedicated mentorship,” Lesoli said.
He noted that applicants will undergo incubation training to refine their business concepts, business plans and pitching skills before final adjudication.
Lesoli stressed that commitment would be a decisive factor during selection.
“We have seen many good ideas fail due to a lack of genuine interest. We want to invest in those who are not only innovative but truly dedicated to growing their businesses.”
The project is open to unemployed Basotho nationals and qualifying start-up businesses that have operated for less than three years and require expansion capital.
Business proposals will not be limited to specific sectors but will instead be assessed on innovation, commercial viability, sustainability and the strength of the overall business case.
Applicants are required to submit comprehensive business plans covering executive summaries, operational plans, market analysis, sales strategies, management structures and financial projections.
Submissions will be accepted exclusively through BEDCO’s online application platform, with supporting documents emailed electronically. No physical applications will be considered.
The organisers say the project remains an important intervention at a time when youth unemployment continues to pose one of Lesotho’s most pressing socio-economic challenges.
Summary
- The entrepreneurship initiative, jointly implemented by the Basotho Enterprise Development Corporation (BEDCO), Revenue Services Lesotho (RSL) and Standard Lesotho Bank (SLB), officially opened applications on July 1, with organisers urging unemployed young Basotho to seize the opportunity to become job creators rather than job seekers.
- A total of M1 million has been earmarked to finance successful business proposals, while an outreach campaign covering all ten districts will run from July 13 in Mafeteng to August 7 in Maseru to encourage applications from aspiring entrepreneurs.
- Speaking during the launch in Maseru, RSL Head of Strategic Partnerships and Public Relations PhelloMphana described the programme as an investment in people rather than simply funding businesses.
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.
