What You Need to Know
The CAFI Entrepreneurship Hub has initiated its fifth cycle incubation program, selecting 60 enterprises to bolster Lesotho’s private sector. This initiative aims to enhance business development services and improve access to finance, particularly for youth and women, fostering sustainable economic growth in the country.
Africa-Press – Lesotho. The Competitiveness and Financial Inclusion Programme (CAFI) Entrepreneurship Hub has launched its fifth cycle incubation programme, with 60 enterprises selected to strengthen Lesotho’s private sector.
Speaking at the launch, CAFI Programme Manager, Mr. Chaba Mokuku, said the initiative is part of ongoing efforts to build a resilient private sector capable of driving sustainable economic growth.
He noted that Lesotho faced significant economic challenges during the COVID-19 pandemic, which led to business closures, job losses and disruptions across key sectors.
Mr. Mokuku said the government has since taken steps to improve the business environment through the introduction of digital systems designed to simplify and enhance the efficiency of starting and operating businesses.
He added that efforts are also underway to expand access to finance, particularly for small and medium enterprises.
He emphasised the importance of the Entrepreneurship Hub in supporting businesses to become investor-ready and bankable, noting that successful enterprises will have access to co-investment opportunities to expand into national and international markets.
Mr. Mokuku further identified priority sectors under the programme as agriculture, manufacturing, tourism and digital innovation, adding that targeted support is provided to help businesses acquire equipment and improve competitiveness.
CAFI Director of Implementation, Ms. Makali Nathane, described the project as an initiative aimed at enhancing business development services and improving access to finance, particularly for youth and women.
She said the programme seeks to ensure that businesses operate smoothly throughout their lifecycle, from registration to operation and eventual closure.
Ms. Nathane added that CAFI is working in collaboration with the World Bank, the Central Bank of Lesotho and the Ministry of Finance to strengthen financial systems and support business growth.
She emphasised that the programme focuses on building a strong entrepreneurship ecosystem through skills development, improved access to finance and integration with regional economic markets.
Ms. Nathane encouraged the selected enterprises to take full advantage of the opportunity and remain committed to growing their businesses.
Lesotho’s economy has faced significant challenges, particularly during the COVID-19 pandemic, which resulted in business closures and job losses. In response, the government has implemented measures to improve the business environment, including digital systems to streamline operations. The CAFI Entrepreneurship Hub is part of these efforts, focusing on building a resilient private sector and supporting small and medium enterprises through targeted assistance and access to finance. This initiative is crucial for fostering economic recovery and growth in Lesotho.
