Maseru – The Minister of Small Business Development, Cooperatives and Marketing says young entrepreneurs should have passion for their businesses or those they plan to start, so they can run profitable businesses.
Honourable Chalane Phori was speaking at the awarding ceremony of Bacha Entrepreneurship Project in Maseru, where four youth companies were awarded start-up capital and also brought to the end Phase III of a Project initiated by Basotho Enterprises Development Corporation BEDCO, Lesotho Revenue Authority LRA and Standard Lesotho Bank.
Honourable Phori is concerned that no company involved in farming related businesses out of the 10 whose members made brief presentations about their businesses was awarded start-up capital, saying Lesotho should feed itself through agricultural production.
He encouraged those who were interested to embark in agri-business to try again next time so they can also be able to follow their passion, and congratulated those who received the awards, urging them to work hard for the development of the country’s economy.
Speaking at the occasion BEDCO Chief Executive Officer, Dr. ‘Makatleho Matabooe said the Project was initiated by the three institutions to encourage and promote the culture of entrepreneurship in the country, saying they are impressed by the ventures undertaken by those who benefited from the project since it started in 2014.
LRA Acting Commissioner General, Mrs. Idia Penane appealed to the companies launched during the ceremony to have determination, dedication, commitment and perseverance, while Standard Lesotho Bank Head of Marketing Mrs. ‘Makeabetsoe Mabaleha congratulated those who have been awarded for their brilliant ideas, saying they are tomorrow’s stars.
One of the Award winners Ms. Lipuo Nkholi from Limomonane Products, which produces wine, said they are grateful for the support and skills they have been equipped with, and promised to use the money for the purpose it has been allocated for.