Africa-Press – Lesotho. The government of Lesotho has approved a M50 million relief fund for Medium, Small and Micro Enterprises (MSMEs) to help them against the economic blow imposed by
the coronavirus (Covid19) pandemic. This was revealed by the Minister of Small businesses Development, Cooperatives and Marketing Hon. Keketso Sello at the MSME day celebration on Friday.
MSMEs in the country have created 76,000 jobs mainly employing the youth, thus validating the fund as it is meant to help sustain these small businesses.
Presenting on MSMEs and Covid-19: Challenges and lessons learnt, BAM Group of Companies Chief Executive officer (CEO) Mamashiya Ntšepeng Tšita Tikiso highlighted that Covid-19 has adversely affected women, saying
some factories -as that is part of one of the sectors that employs more women, have completely shut down making it even harder for the families to earn
a living. Beyond this, the rationed salaries they receive are also ‘not enough. ’ Tikiso exemplified women engaged in the transporting of children to schools, who were left
frustrated when schools shut down due to Covid-19. She continued that, “women have experienced retrenchments from their jobs, and those who imported from South
Africa (SA) with the aim of selling them in Lesotho have been heavily affected since border movement restrictions were imposed. ” Basotho Enterprise Development Cooperation (BEDCO) Executive Head of Enterprise Development
Pesha Shale agrees that MSMEs hold the key growth and sustainability of Lesotho’s economy. Due to Covid-19 a lot businesses have shut down and owners are not able re-establish them as some have used their capital and stock during
the lockdown that closed all businesses with the exception of those offering essentials. Shale added that MSMEs owners need to learn from Covid-19, the
importance of saving and planning for the future so that when similar conditions arise they are able to stay afloat. The disbursements of funds is expected to start as early as this month (July).
As a way of upgrading MSMEs Lesotho Post Bank (LPB) Head of Business department Khauhelo Ramokongoana said they have awarded M100, 000 to Khathang Tema Baitšokoli,
an association for informal businesses to help them build resilience during and after Covid-19 pandemic. He also urged small businesses to have multiple
streams that generate revenue in their businesses so that when pandemics such as Covid-19 hit their businesses they are able to get back into businesses.
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