Africa-Press – Lesotho. To fight the rising youth unemployment rate in Lesotho, the Revenue Services Lesotho (RSL), Standard Lesotho Bank (SLB), and the Basotho Enterprises Development Corporation (BEDCO) have officially launched the 2025 Bacha Entrepreneurship Project (BEP).
This initiative targets young Basotho aged between 21 to 35 who have at least an LGCSE qualification.
The project aims to provide them with the tools, funding, and support needed to start and grow their own businesses.
BEDCO, known for developing local enterprises, will offer training and mentorship, while SLB and RSL will provide financial and operational support.
Together, the three organisations aim to empower youth-led businesses. This year five aspiring entrepreneurships will be provided with a total of M1.4 million financial support
Speaking at the launch event, Acting Head of Marketing at SLB, Manyathela Kheleli, stressed the importance of entrepreneurship in driving economic growth and creating jobs.
He said since the project began, it has invested more than M10 million into youth-led businesses, supporting 33 businesses that have created jobs for more than 184 young Basotho.
“We believe the youth of this country are full of potential. Through BEP, we are investing in their ideas, their passion, and ultimately, the future of Lesotho,” said Kheleli.
He also announced that this year’s top five entrepreneurs will share over M1 million amongst themselves to help grow their dreams. “We want to believe that this opportunity represents a very significant chance for talented individuals with innovative ideas to turn their dreams into reality and make a positive impact on our society,” he said.
Kheleli explained that BEP provides a platform for young entrepreneurs to submit business proposals and, if selected, receive financial support, mentorship, and training. The focus is on innovation, sustainability, and job creation, encouraging young people to bring their business ideas to life.
BEDCO’s Senior Manager of Communication, Marketing, and Stakeholder Relations, Mamahapela Mokuoane, said BEDCO’s main role is to help Basotho businesses grow through mentoring, training, and connecting them to larger markets.
She cited the Basotho Flea Market held every month-end as an example of their support, in partnership with SLB.
“We also help businesses access funding to grow. That is why BEDCO saw it as a great opportunity to partner with SLB and RSL on this project,” she said.
Mokuoane explained that BEDCO will coordinate the entire project, from receiving proposals to guiding participants in documenting and refining their business plans. “We will work with these businesses from the start until the awarding ceremony. Then, we will mentor them for three years to ensure they grow,” she said.
Pheello Mphana, Head of Strategic Partnerships and Public Relations at RSL, expressed RSL’s pride in being part of this initiative. He said the project holds great promise, not only for Basotho youth but also for the country’s economy.
“BEP is not just a project, it is a shared commitment to build a more inclusive and dynamic economy through the empowerment of Basotho youth,” said Mphana.
He explained that RSL’s mission is to mobilise revenue for national development. “We understand that revenue does not grow in isolation. It grows in fertile soil where innovation thrives, businesses grow, and entrepreneurship is nurtured,” he said.
Mphana added that the project will provide seed funding for young entrepreneurs. However, launching a business requires more than just capital, it also needs capacity and confidence.
He acknowledged that many young people are held back by lack of access to funding, skills, and networking opportunities. “We commit to unlocking the potential of youth as drivers of economic growth and innovation,” said Mphana.
Applications for the 2025 BEP are open from the 9th to the 24th of June. Young Basotho with business ideas are encouraged to submit their proposals before the set deadline. The most promising projects will be selected for funding and development support.
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