{"id":7126,"date":"2021-12-13T10:36:28","date_gmt":"2021-12-13T10:36:28","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bedco-enygma-ventures-to-fund-msmes"},"modified":"2021-12-13T11:04:27","modified_gmt":"2021-12-13T11:04:27","slug":"bedco-enygma-ventures-to-fund-msmes","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/bedco-enygma-ventures-to-fund-msmes","title":{"rendered":"BEDCO, Enygma Ventures to fund MSMEs"},"content":{"rendered":"

Africa-Press – Lesotho. <\/strong><\/span>Basotho Enterprises Development Corporation (BEDCO) in collaboration with Enygma Ventures have signed a Memorandum of Understanding (MoU) on \u2018Access to Finance Project\u2019 in an<\/p>\n

effort to enable Micro, Small and Medium Enterprises (MSMEs) to access funding in the form of Venture Capital\/Equity. MoU was signed in reaffirming and strengthening the partnership between two organizations to ensure that the<\/p>\n

two are able to grow and scale up the MSME sector in Lesotho through provision of finance and capital solutions for businesses. Speaking at the signing<\/p>\n

ceremony BEDCO Chief Executive Officer (CEO) Idia Penane said BEDCO\u2019s primary role in this collaboration is to mobilize and support MSMEs in their business<\/p>\n

proposals preparations and for them to be investor ready. She stated that BEDCO will support MSMEs with business proposal development taking into consideration<\/p>\n

the specific requirements of Enygma Ventures. \u201cThis will be done through organizing linkage platforms as a way for investors to meet with MSMEs. It will<\/p>\n

also support MSMEs post funding with adherence to requirements as set out in the funding agreements through various interventions which include business<\/p>\n

coaching, funds management support and incubation,\u201d she explained. Penane informed that the primary basis of the 2021\/25 BEDCO strategy is the Government of Lesotho<\/p>\n

(GOL)\u2019s National Strategic Development Plan (NSDP) II and the MSME policy. She<\/p>\n

said the strategy particularly draws from the first Key Priority Area (KPA) of the NSDP II, \u201cenhancing Inclusive and Sustainable Economic Growth and Private<\/p>\n

Sector Job Creation. The strategy recognizes the significant role that entrepreneurship plays in the achievement of the NSDP II and therefore aims to provide a more focused approach to the development of Basotho enterprises,<\/p>\n

based on the NSDP identified priority areas,\u201d she informed. Penane noted that the MSME sector is crucial to the development and sustainability of the Lesotho economy<\/p>\n

and in most countries they contribute about 70% towards job creation. She said Lesotho MSMEs are however faced with numerous challenges that inhibit their<\/p>\n

growth and impact. She said again access to finance and capital has been identified as one of the biggest constraints that these MSMEs are faced with.<\/p>\n

According to Penane this initiative will collectively assist identified MSMEs address their access to finance challenges and this will in turn enable BEDCO to<\/p>\n

contribute to the economic growth of Lesotho through an increased number of sustainable MSMEs that contributes to job creation and poverty alleviation in<\/p>\n

Lesotho. Conferring to Principal Enygma Ventures Lelemba Phiri, said Enygma Ventures is one of the first Venture Capital companies identified for collaboration to finance local<\/p>\n

MSMEs. She added that it is a Venture Capital fund focused on investing in female entrepreneurs and women founders, focused on Southern Africa or Southern<\/p>\n

African Development Community (SADC) region. Phiri said the US-based fund is a unique purpose-driven investment fund, aimed at empowering, mentoring, and<\/p>\n

capitalizing outstanding female entrepreneurs in the region. Phiri explained that Enygma Ventures will then support MSMEs by ensuring that they get funding to grow and scale up their business ventures.<\/p>\n

\u201cThis will be done by offering adequate support to meet investor requirements. MSMEs will receive capital injection ranging from a minimum of M365 000.00 up to M14 000 000.00 in exchange for an agreed stake in the business,\u201d she stated.<\/p>\n

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

Africa-Press – Lesotho. Basotho Enterprises Development Corporation (BEDCO) in collaboration with Enygma Ventures have signed a Memorandum of Understanding (MoU) on \u2018Access to Finance Project\u2019 in an effort to enable Micro, Small and Medium Enterprises (MSMEs) to access funding in the form of Venture Capital\/Equity. MoU was signed in reaffirming and strengthening the partnership between […]<\/p>\n","protected":false},"author":84,"featured_media":7125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,246,343,245],"class_list":["post-7126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-lesotho","tag-basotho","tag-lesotho"],"yoast_head":"\nBEDCO, Enygma Ventures to fund MSMEs - Lesotho<\/title>\n<meta name=\"description\" content=\"Basotho Enterprises Development Corporation (BEDCO) in collaboration with Enygma Ventures have signed a Memorandum of Un ...\" \/>\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\/bedco-enygma-ventures-to-fund-msmes\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BEDCO, Enygma Ventures to fund MSMEs\" \/>\n<meta property=\"og:description\" content=\"Basotho Enterprises Development Corporation (BEDCO) in collaboration with Enygma Ventures have signed a Memorandum of Un ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bedco-enygma-ventures-to-fund-msmes\" \/>\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=\"2021-12-13T10:36:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-13T11:04:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/12\/img-61b728a09e640.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"864\" \/>\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\/bedco-enygma-ventures-to-fund-msmes#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bedco-enygma-ventures-to-fund-msmes\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BEDCO, Enygma Ventures to fund MSMEs\",\"datePublished\":\"2021-12-13T10:36:28+00:00\",\"dateModified\":\"2021-12-13T11:04:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bedco-enygma-ventures-to-fund-msmes\"},\"wordCount\":552,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bedco-enygma-ventures-to-fund-msmes#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/12\/img-61b728a09e640.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Lesotho\",\"Basotho\",\"Lesotho\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bedco-enygma-ventures-to-fund-msmes#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bedco-enygma-ventures-to-fund-msmes\",\"url\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/bedco-enygma-ventures-to-fund-msmes\",\"name\":\"BEDCO, Enygma Ventures to fund MSMEs - 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