SLB fosters youth business growth

By Seleoe Nonyane

Mamello School and Special Needs Centre came out tops in the scaled-up pitching den that was held by Standard Lesotho Bank (SLB) this week.

The participants in this initiative were the eight winners of the Bacha Entrepreneurs latest cohort namely, ATA Trading, Mamello School and Special Needs Centre, STKTM Solutions, MILCO PTY LTD, SusTech, Masia Investments, SUM Adventures Pty LTD, and Bits and Boards Carpentry business.

Mamello School and Special Needs Centre emerged as the first prize winner, securing a grand prize of an all-expenses paid trip to Kenya and a whooping M40 000.

STKTM Solutions bagged the second prize and a prize money of M10 000 and third placed Masia Invenstment walked away with M5 000 respectively.

The event was aimed at fortifying support and fostering regional integration for Basotho entrepreneurs across the African continent while showcasing the bank’s commitment to driving the growth of Lesotho.

The main objective of the pitching session was to identify a standout young entrepreneur to represent Lesotho at the African Business Banking Awards in April 2024 in Kenya.

SLB brand and marketing manager of communication and sponsorships Manyathela Kheleli indicated that the opportunity will open more doors for the winner as she will be able to rub shoulders with other entrepreneurs on the African continent.

He said the Lesotho winner will also learn some useful ways on how different entrepreneurs run their businesses effectively and pass it on to their business counterparts back home.

For his part, the head of enterprise banking SLB Malatola Phothane noted that the bank, through its Business and Commercial Banking unit, strives to turn possibilities into opportunities.

“Lesotho is our home and we drive her growth,” he said.

Tasked with motivating the entrepreneurs, the founder of Prestige Furniture and Sentebale Gap Funeral Services, Aliciah Motšoane, shared her entrepreneurial journey filled with challenges and triumphs.

She related her business journey from high school to the establishment of Prestige Furniture in 1998.

She said she was faced with a lot of setbacks with her shop burning down and incurring a loss of M5 million.

Motšoane mentioned that business is demanding, emphasizing the need for hard work and a unique mindset.

She urged entrepreneurs to join associations as they are pivotal to the growth of a business.

“Read motivational books, continue learning and educating yourself.

“Do not underestimate the power of workshops no matter how small they seem to be,” Motšoane added.

On behalf of the SLB chief executive officer, Anton Nocolaisen, Keketso Makara highlighted the importance of youth collaboration across diverse sectors.

He said with a steadfast commitment to supporting young entrepreneurs, their mandate aims to empower the youth in steering the private sector toward growth.

This is done by contributing to economic diversification.