Africa-Press – Lesotho. Basotho Enterprise Development Corporation (BEDCO) has launched a business idea pitching fundraising gala dinner aimed at growing Basotho businesses on Friday.
The corporation has partnered with giant business stakeholders such as Lesotho Post Bank and Sekhametsi Investment Consortium, which will ensure progress and
success of this initiative. The head enterprise of BEDCO Tšepang Tlali said the minds of the youth need to be nourished such that they can develop into independent, analytical and problem solving
“machines”. This he said calling on to the business community that was gathered for the launch, to invest in the youth through capacity building and offering platforms within their individual organizations for youth to exercise their
amazing ideas. He emphasized that it is their duty as parents and the leaders of the business industry to do so. The business idea pitching initiative is a component of the main youth development
project under the access to finance stream. It targets young entrepreneurs aged 18 to 35 who need small amounts of funds ranging from M10, 000.00 to M50,000.00 to finance their start-up ventures. The requirements for the enterprises to qualify for this would be a viable and tested business idea/ venture which is owned by a Lesotho citizen. The business should indicate growth potential.
Also, the component is targeting four pitching sessions in a year across the whole country which will be held regionally. Additionally, Tlali said BEDCO‘s main goal is to foster Basotho‘s entrepreneurial environment
where Basotho youth are active participants that drive the creation of sustainable employment opportunities for others through the youth development projects.
He said BEDCO provides access to finance, mentorship and incubation, all under one project. Tlali also conveyed his gratitude to two entities that are major
contributors to the Business idea pitching project which are the Lesotho Post Bank and the Sekhametsi Investment Consortium. He also said with the same intention to achieve its mandate of developing Basotho owned businesses, BEDCO has also fostered a five year partnership with the two companies. Sekhametsi
Investment Consortium pledged M300, 000.00 towards developing youth businesses. According to Sekhametsi Investment Consortium Chairman of the Board Leboela Lebete, the company is mainly set at investing in local businesses. He said they have helped the country in the fight against Covid-19, adding that now they are
focused on the effects of the pandemic which have led to youth unemployment. The Lesotho Post Bank will sponsor the project by providing free banking services
to winners of the business plan pitching competition. These services include investments for youth businesses and the distribution of payments. Petroleum
Fund also pledged M50 000.00 towards Business idea pitching competition, JC Decaux pledged M30 000.00 worth of advertising, Career Development Training Institute M5000.00, Chaperone M5000.00, My Loan Ltd M2500.00 and other anonymous contributors pledged sums making an overall total of M407, 500.00.
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