Africa-Press – Lesotho. The Central Bank of Lesotho (CBL) Governor Dr. Retšelisitsoe Matlanyane has appealed to women within the business community space to adopt efficiency in their doings.
“If I want change, change starts with me,” she said. This she said at the high-powered virtual commemoration of African Women’s Month
yesterday organized by the Basotho Enterprise Development Corporation (BEDCO). Also, the key note speaker, Matlanyane said women are making a considerable impact in the mainstream economy.
She however warned that the absence of relevant policies could hamper the smooth running of the businesses. Taking stock of the COVID-19 pandemic that has had negative
effects on the global economy, she said the lockdown restrictions have reversed the gains which Lesotho had made. She told the online attendees of the gloomy picture of the
country’s economy. Matlanyane said according to the CBL projections, the Gross Domestic Product (GDP) is expected to contract by 5.7 percent. The CBL Governor
said the pillars of economy, which she said are mining, construction and factories will also have their revenues decline by double figures. “We are facing big problems,” she said adding that the
government is not spared from the hard times coming as it relies on tax revenues. Matlanyane said there are however “opportunities in a crises. ” She also said the government has to spend despite the
dwindling revenue, citing the Southern African Customs Union (SACU) revenue which is also expected to decline. Matlanyane said the government has to spend and address the challenges of the vulnerable
groups which are adversely affected by the COVID-19 economic meltdown. The Governor urged women to go for innovative ideas of doing business. She talked them out of the “overreliance” on government tenders.
She said that practice is not “sustainable. ” “Let’s look at the opportunities to expand the economy,” she charged. Also speaking at the webinar, BAM Group Chief Executive
Officer (CEO) ‘Mamashiya Ntšepeng Tšita Tikiso talked of the necessity for businesses to establish themselves in the online space. “We cannot divorce ourselves from the fact that the world is
evolving around the internet,” she emphasized adding that internet is no longer a “luxury. ” Taking stock of the Micro-Small and Medium Enterprises (MSMEs)
during the Coronavirus era, she said “each business should set itself out” to thrive amid the unwelcoming climate. Tšita-Tikiso said the online space has
created a situation in which small businesses can compete with big corporations. She pointed out that the MSMEs cannot prosper on their own, arguing that they need government to provide opportunities which are
Information and Communication Technology (ICT) based. The BAM Group CEO drove home a point that e-commerce is key and it is key to every business. “Lesotho should gear up and hop up in technology,” she
said. “What are we doing to ensure internet sustainability?” she challenged the policy makers. The Lesotho Communications Authority (LCA) Advocate ‘Mamarame
Matela said it is important that there are legal instruments which will allow the business to operate smoothly and flourish. Advocate Matela said women have been at the focal point of
trade. She however highlighted that women are faced with challenges of acquiring the working capital for their business establishments’. “It is in our nature to produce,” she argued.
She also challenged women to be innovative in their businesses, saying they should have online paying platforms for their businesses as much as some have been operating remotely due to the lockdown and the
pandemic preventive protocols. For her part, Hape Marite appealed to women to overlook the disadvantages and bank on their capabilities. The founder of Black Hair
Cosmetics and Natural Hair Studio also urged those who have made it in business to open themselves to upcoming entrepreneurs, to lift them as they rise.
Narrating her business journey, she said, she had learnt through the ropes and exploited available platforms to cement her position in the industry. Also, among the speakers were ‘Mathato Magadlela an
entrepreneur, ‘Matokelo Thabane the President of Federation of Women Entrepreneurs, BEDCO CEO Idia Penane, BEDCO Chairperson Rethabile Maluke. BEDCO is a government parastatal which is charged with the responsibility to “establish and develop indigenous” Basotho owned businesses.
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