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Youth

Launch of the 2025 Bacha Entrepreneurship Project: Empowering Youth-Led Businesses in Lesotho

Strategic Insights

— 2 min read

The Revenue Services Lesotho (RSL), Standard Lesotho Bank (SLB), and the Basotho Enterprises Development Corporation (BEDCO) have launched the 2025 Bacha Entrepreneurship Project (BEP) to address the rising youth unemployment rate in Lesotho. The project targets young Basotho aged 21-35 with an LGCSE qualification, providing them with the tools, funding, and support to start and grow their own businesses. BEDCO will offer training and mentorship, while SLB and RSL will provide financial and operational support. The project aims to empower youth-led businesses and drive economic growth in Lesotho.

Key Takeaways:

  • The 2025 Bacha Entrepreneurship Project (BEP) is a collaborative initiative between the Revenue Services Lesotho (RSL), Standard Lesotho Bank (SLB), and the Basotho Enterprises Development Corporation (BEDCO) to support young Basotho entrepreneurs.
  • The project targets young Basotho aged 21-35 with an LGCSE qualification, providing them with funding, mentorship, and training to start and grow their own businesses.
  • BEDCO will coordinate the entire project, from receiving proposals to guiding participants in documenting and refining their business plans.
  • The project aims to empower youth-led businesses and drive economic growth in Lesotho by investing in the ideas, passion, and potential of young Basotho.
  • Since the project began, it has invested more than M10 million into youth-led businesses, supporting 33 businesses that have created jobs for over 184 young Basotho.
  • This year's top five entrepreneurs will share over M1 million amongst themselves to help grow their dreams.

Statistics:

  • M1.4 million financial support will be provided to five young entrepreneurs.
  • M10 million has been invested by the project into youth-led businesses since its inception.
  • 33 businesses have been supported by the project, creating jobs for over 184 young Basotho.

Sources:

  • "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)." (Source: ? (Publication Date: ?))
  • "Five aspiring entrepreneurs will be provided with a total of M1.4 million financial support." (Source: ? (Publication Date: ?))
  • Manyathela Kheleli, Acting Head of Marketing at SLB, said: "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." (Source: ? (Publication Date: ?))
  • Mokuoane, Senior Manager of Communication, Marketing, and Stakeholder Relations at BEDCO, said: "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." (Source: ? (Publication Date: ?))
  • Mphana, Head of Strategic Partnerships and Public Relations at RSL, said: "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." (Source: ? (Publication Date: ?))

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