Bacha Entrepreneurship Project: Opportunity for youth to venture into business

RETHABILE MOHONO

MASERU – The youth are encouraged to send in their business ideas for the Bacha Entrepreneurship Project (BEP), a programme designed to support young Basotho entrepreneurs and help tackle unemployment among both graduates and individuals without access to higher education.

This initiative is led by Standard Lesotho Bank (SLB), in partnership with Basotho Enterprises Development Corporation (BEDCO) and Revenue Services Lesotho (RSL), aimed at empowering young Basotho between the ages of 21 and 35. The project aims to inspire entrepreneurship, create employment opportunities, and alleviate poverty among the youth.

Since its inception in 2014, the initiative has been dedicated to nurturing entrepreneurial skills and foster economic growth. The programme offers workshops and training sessions on business planning, financial management, marketing strategies, and writing a business proposal.The application deadline is June 28, 2024. Keketso Makara, the Head of Business and Commercial Clients at SLB, emphasized the importance of youth entrepreneurship in the country’s economic growth during the 2024 phase launch.

He expressed gratitude to everyone who has collaborated with them over the past decade, stating that by supporting young entrepreneurs, they are not only investing in their future but also in the future of the nation. “The Bacha Entrepreneurship Project offers a platform for young individuals to showcase their innovation, creativity, and ability to turn their ideas into successful businesses,” he said.

Conversely, Lemphane Lesoli, the Executive Head of Enterprise Development at BEDCO, emphasized the significance of empowering young entrepreneurs by providing them with essential tools and resources. Lesoli highlighted that their partnership with SLB and RSL focuses on offering a complete support system, which encompasses training, mentorship, and financial assistance, to address the diverse obstacles encountered by young entrepreneurs.

“This year we will be awarding five aspiring entrepreneurs, providing them with M1.4 million as their financial support, in representation of a significant opportunity for talented innovators to turn their dreams into a reality, and make a positive change into the economy of Lesotho,” Lesoli said, noting that with an investment of M8.8 million they have supported the dreams and ambitions of 28 businesses while at the same time provided employment to 120 young individuals.

“As we embark on this new chapter, I am free to announce that the doors of proposals will now be open to all industries, whether you are passionate about technology, tourism, agriculture or any other sector, we invite you to submit your innovative ideas and bold initiatives,” said Lesoli.