Africa-Press – Lesotho. Bam Group Foundation (BGF) has resumed its monthly entrepreneurship seminars that were halted due to Coronavirus (Covid-19) pandemic earlier this year.
As a result of the lockdown restrictions put in place the seminars are now broadcast on Bokamoso FM every second week of the month on Tuesday unlike before where sessions were held at American Corner.
BGF Coordinator Lintle Tšita explained that BGF which is a subsidiary of BAM Group of Companies (BGC) focuses on community development, women and youth
empowerment alongside entrepreneurship development in Lesotho. Tšita indicated that in the entrepreneurship space, they have partnered with United States (US) Embassy through American Corner where before the pandemic they held their sessions to discuss different issues on entrepreneurship. “We realized that since entrepreneurship has become a tactic of survival in the country, there seems to be a shortage of soft skills and that is where BGF comes in,” she said.
She noted that in their sessions, they normally hosted various experts in the field of business who share their experiences in business with the crowd at the American corner. BAM Group of Companies Chief Executive Officer (CEO) Mamashiya Ntšepeng Tšita Tikiso explained that BGC has an interest in seeing entrepreneurship grow in
Lesotho and that’s when they came up with BGF. Tikiso explained that due to the Covid-19 outbreak, they had to resort to Bokamoso FM in order for them to
proceed with their mandate. “Knowing that the radio station appeals to the youth, we decided to have our programmes here so that it continues helping Basotho,” she noted.
Speaking on the topic for the day which was understanding how financing, funding and investments for start-ups work, Tikiso said Covid-19 has negatively impacted
the economic space of Lesotho. She emphasized that at the current moment, there are still places young people who have ventured into entrepreneurship can visit to seek funds for their businesses to prosper. She also said even the street vendors too still stand a chance since through their committees, they already received support from different organisations such as Alliance Insurance Company and Lesotho Post Bank. Tikiso said entrepreneurs can also receive funding from the Ministry of Gender, Youth, Sports and Recreation (MGYSR) which has social compact that provides M40 000 seed capital for one to start their project. “You don’t necessarily need to have a business but at least have a business plan or an established business that you want to improve ,” she said. She clarified that this funding can be applied for by people who have formed a partnership
and not individuals. She added that MGYSR will buy all the necessary equipment after validating that there is a premise to commence the project. Tikiso said there is also an organisation called Lesotho Enterprise Assistance Programme (LEAP) which also extends its support by providing money for services one needs like marketing or looking for certain software to enhance the business. She added that there is a certain percentage one is expected to pay and the rest of the money will be paid directly to the service provider by LEAP.
She added that there is also Basotho Enterprise Development Corporation (BEDCO) as one of the organisations which focus on small entrepreneurs. BEDCO assists
youth through its project called Bacha Entrepreneurship Project by funding their viable business ideas. “The youth compete for funding through their business plans and so far about 10 candidates have won M100 000 each and funds
are soon to be released to the winners,” she said. For people who are into agriculture, she said Lesotho Smallholder Agriculture Development Project (SADP) offers farming equipment to people who have applied. Tikiso added that agriculture is becoming fashionable lately therefore urged young people to venture into it as it is the ultimate solution to unemployment. She noted that the United Nations Development Programme (UNDP) has also extended a helping hand to young people through its project called UNDP EYES project which is yet to call for applicants. She said they normally visit different districts and host workshops to train people after which they receive support that enables them to run their own businesses. Tikiso also stated that there are a lot of funding opportunities mostly focusing on the youth and BGC is willing to assist those seeking
funding. She urged all the aspiring and fully fledged entrepreneurs to listen to BGF programme on Bokamoso FM every second week of the month on Tuesday and also to subscribe for
Informative Newspaper through WhatsApp link to receive regular updates on international opportunities and the topic for the next BGF programme. Bokamoso FM Station Manager Simangaliso Dlamini said Bokamoso FM is a very sophisticated radio station in the country which always brings value to the people. He noted that their radio station is the only station in the country currently which brings business updates and financial indicators to the people. “We also aim to empower youth in business,” he said. Dlamini added that they have a feature at 15;30 pm to 16;00 pm called ‘Hook me up’ whereby they hook up people on
everything especially when it comes to business, “ On Tuesdays on the feature, we do business updates and that is where BGF fits in,” he said. He highlighted that they found it useful to partner with people who want to inspire the youth hence their partnership with BGF.
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