Young Basotho have been urged to take advantage of the annual Bacha Entrepreneurship Project (BEP) to help transform the country’s economic challenges.
The entrepreneurship initiative spearheaded by Standard Lesotho Bank (SLB), Revenue Services Lesotho (RSL) and Basotho Enterprise Development Corporation (BEDCO) boasts a total of M1.4 million funding for this year’s edition.
“The call for proposals is now open to all industries. Whether your interest lies in technology, tourism, agriculture, or any other sector, this is your moment to unleash your creativity and build a better future for yourself and your community,” said Manyathela Kheleli, the Marketing, Communications and Sponsorships Manager at SLB during the launch this week.
The initiative invites youth from all corners of the country to submit business proposals for a chance to secure part of the M1.4 million funding package. The deadline for applications is July 24.
This year, five outstanding entrepreneurs will be selected to receive financial support, training, and long-term mentorship.
Since the project’s inception in 2014, the project has invested over M10 million, supporting 33 businesses and generating employment for 184 young people.
Kheleli emphasised the deeper significance of the program.
“This project is more than just funding. it is a platform for mentorship, collaboration, and sustainable growth. We are building a culture of entrepreneurship that can reduce youth unemployment and foster inclusive development.”
’Mamahapela Mokuoane, who spoke on behalf of BEDCO, echoed Kheleli’s sentiments for aspiring entrepreneurs to seize this rare opportunity.
“We will be selecting 50 applicants for an intensive training program. From these, the top five will receive financial support and three years of dedicated mentorship,” she explained.
She noted that passion and commitment will play a key role in the selection process. “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 training will also include market access support, a crucial ingredient for small business success.
Phello Mphana, RSL’s Head of Strategic Partnerships and Public Relations, noted the transformative ambition of the project.
“At RSL, our mission is to mobilise revenue for national development. But revenue grows where innovation and entrepreneurship thrive,” he stated.
Mphana emphasised that the project is a long-term investment in the people, not just businesses.
“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.”
“This is your moment. We are walking this journey with you, not just as sponsors, but as partners in purpose and progress,” Mphana said.
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.
