BEDCO, RSL, SLB renew drive to empower young entrepreneurs 

…as 2026 Bacha Entrepreneurship Project opens for applications 

Moroke Sekoboto 

THE Basotho Enterprises Development Corporation (BEDCO), Revenue Services Lesotho (RSL) and Standard Lesotho Bank (SLB) have launched the 2026 edition of the Bacha Entrepreneurship Project (BEP), renewing efforts to tackle youth unemployment by turning young job seekers into business owners. 

The three institutions yesterday officially opened the call for proposals, inviting young Basotho entrepreneurs to submit innovative business ideas by 28 August 2026. 

Five outstanding entrepreneurs will be selected to receive seed capital and comprehensive business support under the programme. 

Speaking during the launch at BEDCO’s premises in Maseru, BEDCO Executive Head of Enterprise Development, Lemphane Lesoli, said the initiative was a strategic intervention aimed at expanding access to finance, strengthening entrepreneurship development and helping young Basotho build sustainable businesses that contribute to economic growth. 

Mr Lesoli said the project directly addressed one of Lesotho’s most pressing challenges – youth unemployment. 

“BEP represents hope, transformation and the reality that young people in this country can and must become job creators,” he said. 

He said the programme was built on a partnership approach, with BEDCO coordinating and implementing activities on behalf of all partners. 

“BEDCO’s mandate is to develop and support micro, small and medium enterprises across the country, and through this project we are putting that mandate into action in a practical and impactful way,” Mr Lesoli said. 

He said BEDCO’s responsibilities included coordinating project activities, facilitating capacity-building and pitch-deck training for shortlisted applicants, overseeing the disbursement of funds and monitoring how beneficiaries use the money. 

The successful applicants will also be enrolled in a structured three-year incubation programme offering mentorship, business coaching, market access support and advisory services. 

“This holistic approach ensures that BEP is not only about funding, but about building capable, resilient and growth-oriented enterprises,” Mr Lesoli said. 

RSL Head of Strategic Partnerships and Public Relations, Pheello Mphana, said the project demonstrated what could be achieved when institutions work together towards a common goal. 

“Through the collaboration between RSL, SLB and BEDCO, we are creating opportunities that enable young entrepreneurs to transform innovative ideas into viable and sustainable businesses,” Mr Mphana said. 

He said entrepreneurship support was critical because a thriving private sector creates jobs, stimulates economic activity and broadens the country’s tax base. 

“Every successful entrepreneur contributes not only to their own prosperity but also to the economic wellbeing of Lesotho. That is why supporting entrepreneurship is more than a development initiative; it is an investment in our nation’s future,” he said. 

Mr Mphana said that since its establishment in 2014, BEP had supported 38 businesses across various sectors of the economy, with more than M10.4 million invested in seed capital. 

The supported businesses have created over 200 jobs and the programme has maintained an impressive 71 percent success rate. 

“Behind these achievements are inspiring stories of resilience, innovation and determination. They are stories of young people who chose to build businesses rather than wait for opportunities,” he said. 

He added that while not every business had succeeded, each experience had provided valuable lessons that continue to strengthen the programme. 

“Entrepreneurship is a journey that demands resilience, adaptability and continuous learning. Every challenge presents an opportunity to improve, innovate and come back stronger,” Mr Mphana said. 

SLB Marketing Manager for Communications and Sponsorships, Manyathela Kheleli, said the bank’s guiding principle was: “Lesotho is our home. We drive her growth”. 

“If Lesotho is truly our home, then investing in her young people is both our responsibility and our privilege,” Mr Kheleli said. 

He noted that youth unemployment remains one of the country’s biggest challenges but also presents one of its greatest opportunities. 

“Across Lesotho are talented young people with ideas and determination who simply need access to mentorship, business development support and seed capital. BEP bridges that gap. It transforms job seekers into job creators and contributes to a stronger economy,” he said. 

Mr Kheleli said the programme had already trained 334 aspiring entrepreneurs, funded 38 businesses, invested approximately M11.8 million and generated more than 200 jobs. 

He cited the success of Spetzo Pizza, one of the programme’s early beneficiaries, which recently relaunched and opened a new outlet at the LNDC Centre. 

“What began as an entrepreneurial dream has grown into a household name. Spetzo Pizza is a shining example of what this project can achieve when determination is matched with opportunity. 

“To every young entrepreneur here today, remember that the next household name could be your business.” 

Mr Kheleli encouraged young people to develop businesses that solve real problems and reduce dependence on imports. 

“Ask yourselves what Lesotho imports that you can produce locally, how technology can improve lives, how agriculture can become smarter, how tourism can create jobs and how manufacturing can add value. Build businesses that can scale beyond your community and ultimately employ other Basotho.” 

He added that this year’s programme launch coincided with SLB’s 30th anniversary celebrations. 

“For three decades we have remained committed not only to banking, but to unlocking opportunity, supporting entrepreneurs and investing in the development of our country. Our greatest legacy will be measured by the lives we transform and the businesses we help build,” Mr Kheleli said. 

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