BEDCO boasts remarkable milestones
By Liapeng Raliengoane
MASERU – The Basotho Enterprises Development Corporation (BEDCO) Acting Chief Executive officer (CEO) Tšepang Tlali says the cooperation is yet to make moves.
Tlali said the strategic intent is to lead and coordinate the establishment, development and promotion of sustainable Basotho enterprises focusing on the priority sectors identified in the National Strategic Development Plan (NSDP II).
This he highlighted during the stakeholders engagement dialogue last week, which was held to enhance and encourage further collaborations.
At the same event, BEDCO also provided updates on its strategic performances from the years 2020-2022 and on the activities to be undertaken for the years until 2025 as well as progress on the strategic plan 2020/2021- 2024/2025.
On the performance highlights, Tlali revealed that among others, BEDCO aims to enhance entrepreneurship among the youth and women through expansion of Bacha Entrepreneurship Program (BEP) and development and implementation of an entrepreneurship program for women.
To this end, 60 start-ups were granted M100 000 each under the Business Plan Competition (BCP) for youth and women.
Another milestone is of leading the development of Micro, Small and Medium Enterprises (MSMEs) in prioritized MSME sectors. The plans were to develop and implement an entrepreneurship program in the agricultural sector, the manufacturing sector and the tourism sector.
BEDCO also aims to enhance collaborations with stakeholders, that is develop and implement a stakeholder engagement strategy, public relations strategy, establish strategic partnerships with the private sector for effective delivery of strategy and review current partnerships for effective delivery of the BEDCO mandate.
“Some of the challenges BEDCO came across include: overlaps in mandates with other public service providers, perception that BEDCO is competing with Basotho MSMEs, dilapidated rental estates and negative perception of BEDCO by some stakeholders,” Tlali said.
On behalf of the youth, Tumelo Moteuli applauded BEDCO and suggested that in their plans they include the youth from the rural, hard to reach places’
Lerotholi Polytechnic Rector Professor Sepiriti Tlali also applauded all the efforts of BEDCO especially brand visibility which was and continues to be seen during business plan competitions and many initiatives.
BAM Group of companies Chief Executive Officer (CEO) Ntšepeng Tšita Tikiso also applauded BEDCO on its efforts and recommended that in order to mark progress of winners, they should be documented before and after disbursement of funding so that the impact is captured well.
The Basotho Enterprises Development Corporation (BEDCO) is a parastatal of the Government of Lesotho. It was established as a parastatal in 1980 by a BEDCO Act No. 9 of 1980 (as amended). Its mission is to build sustainable enterprises contributing to national economic growth. The purpose of the Corporation is the establishment and development of indigenous Basotho-owned business enterprises with particular emphasis on the promotion of entrepreneurial skills.