MASERU, Lesotho, September 8, 2022/APO Group/ —
The Ministry of Trade and Industry has launched the Lesotho Entrepreneurship Hub and Seed Financing Facility at the event held on Wednesday in Maseru.
The Government of Lesotho has received financing from the World Bank to implement the Competitiveness and Financial Facility Inclusion (CAFI) which aims to facilitate the development of a comprehensive entrepreneurship ecosystem in the country.
Speaking at the launch, the Minister of Trade and Industry, Mr. Thabiso Molapo said the Ministry is confident that this initiative will address the challenge faced by Basotho entrepreneurs especially women and youth.
Dr Molapo said Lesotho Entrepreneurship Hub and Seed Financing Facility will be an entrepreneurship knowledge hub and business incubator that will work with entrepreneurs to help them learn how to turn their ideas into an enterprise, saying this initiative came at an opportune time when the country is faced with socioeconomic challenges that include poverty and high rate of youth unemployment.
He further mentioned that these situations were worsened by the outbreak of the COVID-19 pandemic which led to massive job loss.
He said the establishment of the Lesotho Entrepreneurship Hub and Seed Financing Facility is the most transformational intervention that is designed to address the lack of access to business support, service and financial products in Lesotho.
He urged all key players in the entrepreneurship ecosystem to make full use of this facility and other initiatives under this project that are intended to strengthen compatibility, increase trade, promote investment, foster innovation and promote entrepreneurship in Lesotho.
Dr Molapo assured the full support of his ministry for this initiative established
In conclusion, he thanked the World Bank for its technical and financial support in the launch of this project and other developing partners.
