Buy Lesotho attempts to create solutions for SMEs

Buy Lesotho attempts to create solutions for SMEs
Buy Lesotho attempts to create solutions for SMEs

Africa-Press – Lesotho. Buy Lesotho together with The Entrepreneurs Network (TEN) and Lesotho Chamber of Commerce (LCCI) engaged in the #EXPO 2021 themed #RebuildingTheEconomy that ran

from 21-27 November 2021. The engagement of Buy Lesotho, TEN and LCCI was to join hands and create a bigger voice on their similar concerns for the Small and Medium Enterprises (SMEs) in

Lesotho and observe how their collective efforts can create a larger force towards #RebuildingTheEconomy, as the theme stood for the year (2021). Buy Lesotho Chief

Strategies and Communication Lebohang Mohapi stated that the purpose of the Expo was to engage cooperatives, have all industry players raise their suggestions in how they will contribute to the growth of SMEs.

“Our main focus as Buy Lesotho is SMEs; we want to make sure that we contribute towards the

growth of small business. There was also a platform during the expo whereby we allowed executors to sell their products. It is quite interesting how much money

flows through local products,” he noted. He mentioned that during the panels of discussion they addressed a few topics which were cannabis industry as an economics driver, agriculture as a builder of industry,

manufacturing as well as the good old access to finance. He urged potential stakeholders who see an opportunity to lend a helping hand, even for their own

profitability. “The bottom line is still that there is still little to zero access to finance for Basotho start-ups; we as Buy Lesotho take it upon ourselves to be at fault, together

with any other individual who has taken feasible action against. Our action plan is easy; going forward, put our best foot forward in implementing the

solutions,” reads the report. Buy Lesotho’s strength lies in friendships with anticipation to solving every industry problem through automated blanket solution to the major problems that SMEs in Lesotho face;

access to markets, access to sustainable finance, marketing and distribution. A few solutions were mentioned during the expo and in the report which were

Chambers of commerce in shifting the SMEs from small time players towards big corporate. Accounting firms; as most start-up cannot afford accounting services

on a regular basis. Accounting firms will help bring affordable means of engaging accounting professionals to the surface. An oversight on income as well as the implementation of financial growth based ideas in business, will help make a lot of SMEs be placed in a much better position to observe and monitor failure or growth patterns.

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