{"id":21665,"date":"2022-11-16T09:27:39","date_gmt":"2022-11-16T09:27:39","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/entrepreneurship-network-to-host-business-expo"},"modified":"2022-11-16T10:01:22","modified_gmt":"2022-11-16T10:01:22","slug":"entrepreneurship-network-to-host-business-expo","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/entrepreneurship-network-to-host-business-expo","title":{"rendered":"Entrepreneurship Network to host business expo"},"content":{"rendered":"

Africa-Press – Lesotho. <\/strong><\/span>THE Entrepreneurship Network (TEN) will hold an expo for local businesses from November 28 to December 2 at the Maseru Mall. The TEN\u2019s co-founder, Stephen Monyamane, said the purpose of the expo is to help upcoming businesses take advantage of the emerging opportunities in the local business sector to promote sustainability.<\/p>\n

He said they plan to invite government ministries and institutions to share their vision for the next five years. Monyamane said they want to equip the entrepreneurs to gear up for project around infrastructure development.<\/p>\n

Through this expo, the Lesotho Millennium Development Agency (LMDA) through their Millennium Challenge Corporation (MCC) Compact II project and the Lesotho Highlands Development Authority (LHDA) through Phase II project which will soon start, will be invited to reveal business opportunities necessary for such projects.<\/p>\n

Over the next five years, Monyamane says they want to know which business opportunities Basotho should focus on based on the new government\u2019s policies and projects that are in the pipeline.<\/p>\n

\u201cThis will allow entrepreneurs to focus on businesses which will be useful in such projects,\u201d Monyamane says. He said they want to understand the landscape and challenges that businesses are facing.<\/p>\n

After realising that most of the businesses are not formally registered, they invited the United Nations Development Programme (UNDP) to sponsor their initiative of a boot camp in the past.<\/p>\n

The boot camp took two years from 2018. All the four commercial banks and service providers such as accountants, marketing consultants and lawyers were invited.<\/p>\n

\u201cEntrepreneurs get the first one year of free services in respective of their needs,\u201d he says.<\/p>\n

He said in the first unit, more than 60 out of 100 entrepreneurs realised the need for these services and they grew well enough to afford paying for their businesses.<\/p>\n

However, due to Covid-19, more than half out of 100 entrepreneurs failed to attend the second unit. \u201cThose service providers which are part of SMEs now have paying clients over the sponsored SMEs,\u201d he said.<\/p>\n

Monyamane said when Covid-19 hit, Standard Lesotho Bank and First National Bank introduced a M1 million Covid-19 Relief fund for entrepreneurs who opened bank accounts with them.<\/p>\n

About 20 entrepreneurs benefited from the share of M2 million. Monyamane said since the organisation was established, they have injected over M6 million to over 2 200 entrepreneurs.<\/p>\n

He said over 60 percent are still running while 40 percent failed. \u201cWe live in an era where decisions are made through facts and data,\u201d he said. He said this project, although it won\u2019t generate any tangible benefits, will allow them to easily attract investors in the near future.<\/p>\n

Despite the achievements, he said they heavily rely on companies and corporates to sponsor their events. He said because of the Covid-19-induced difficulties, many projects don\u2019t have enough capacity to finance their activities.<\/p>\n

So they have to find creative ways of bringing out value on limited resources. Monyamane called for companies and government collaborations so that they can reach more people and make a great impact.<\/p>\n

\u201cThe majority of people who venture into businesses are driven by poverty,\u201d he says. He said they want to take out the survival mindset to business mind set to build sustainable businesses. TEN is a non-profit organisation which seeks to build the ecosystem of sustainable businesses which are investor-ready.<\/p>\n

For More News And Analysis About Lesotho<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Lesotho. THE Entrepreneurship Network (TEN) will hold an expo for local businesses from November 28 to December 2 at the Maseru Mall. The TEN\u2019s co-founder, Stephen Monyamane, said the purpose of the expo is to help upcoming businesses take advantage of the emerging opportunities in the local business sector to promote sustainability. He […]<\/p>\n","protected":false},"author":84,"featured_media":21664,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[233,246,245,438],"class_list":["post-21665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-lesotho","tag-lesotho","tag-network"],"yoast_head":"\nEntrepreneurship Network to host business expo - Lesotho<\/title>\n<meta name=\"description\" content=\"THE Entrepreneurship Network (TEN) will hold an expo for local businesses from November 28 to December 2 at the Maseru M ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/entrepreneurship-network-to-host-business-expo\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Entrepreneurship Network to host business expo\" \/>\n<meta property=\"og:description\" content=\"THE Entrepreneurship Network (TEN) will hold an expo for local businesses from November 28 to December 2 at the Maseru M ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/entrepreneurship-network-to-host-business-expo\" \/>\n<meta property=\"og:site_name\" content=\"Lesotho\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-16T09:27:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-16T10:01:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2022\/11\/postQueueImg_1668578573.80.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/entrepreneurship-network-to-host-business-expo#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/entrepreneurship-network-to-host-business-expo\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Entrepreneurship Network to host business expo\",\"datePublished\":\"2022-11-16T09:27:39+00:00\",\"dateModified\":\"2022-11-16T10:01:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/entrepreneurship-network-to-host-business-expo\"},\"wordCount\":559,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/entrepreneurship-network-to-host-business-expo#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2022\/11\/postQueueImg_1668578573.80.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Lesotho\",\"Lesotho\",\"network\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/lesotho\/all-news\/entrepreneurship-network-to-host-business-expo#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/entrepreneurship-network-to-host-business-expo\",\"url\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/entrepreneurship-network-to-host-business-expo\",\"name\":\"Entrepreneurship Network to host business expo - 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