By: Mpho Shelile
Maseru – The recently held Sebabatso Conference brought together various organizations to discuss the pressing issues surrounding youth entrepreneurship and the opportunities available for small and upcoming businesses.
The event, which took place in Maseru, featured prominent speakers and panelists who offered valuable insights into how young entrepreneurs can harness existing resources and tools to grow their ventures.
The conference emphasized the pivotal role that youth play in shaping the future of Lesotho’s economy. With an increasing number of young people showing interest in entrepreneurship, it is crucial that they are equipped with the right support and guidance to navigate the challenges of starting and sustaining a business.
A key point raised by the speakers was the importance of aligning youth entrepreneurship with national development goals, creating a synergy that fosters job creation and innovation.
Mrs. Seeng Tlali from Catholic Relief Services (CRS) highlighted the need for a strong support system to empower young entrepreneurs. She stressed that many young people, particularly in rural areas, face barriers such as lack of access to finance, inadequate training, and limited market exposure.
Tlali urged the private sector and government agencies to create more platforms where young business owners can receive mentorship, network, and gain practical skills. “If we invest in our youth, we are investing in the future of our country,” she said.
Financing is one of the most significant hurdles for small businesses, and this topic was a key focus of the conference. Mr.Ramatsoto Rampai from RENOKA, a multisectoral and multidisciplinary custodial network of critical agents dedicated to the restoration of water, land, and the long-term prosperity of all communities in Lesotho and the wider Orange-Senqu River Basin, spoke about the importance of financial education for young entrepreneurs.
He pointed out that many startups fail due to poor financial management and a lack of understanding of basic business principles. “It’s not just about getting access to funding, but about knowing how to manage it effectively,” Rampai emphasized.
RENOKA aims to provide young people with the knowledge and tools to handle finances, including budgeting, record-keeping, and understanding the legal aspects of running a business.
Mrs. Mamashiya Ntšepeng Tšita Tikiso, representing the Competitive and Financial Inclusion (CAFI) Project, highlighted the importance of the Lesotho Entrepreneurship Hub and seed funding facility (LEHSFF) as a crucial tool for empowering aspiring entrepreneurs.
She explained that the hubs under LEHSFF serve as nurturing environments where individuals, especially women and youth, can develop their business ideas, receive mentorship, and access to resources necessary for growth.
Adding that through CAFI’s initiatives, seed funding is provided to promising entrepreneurs, enabling them to turn their innovative ideas into viable businesses. Mrs. Tšita Tikiso emphasized that such support not only fosters entrepreneurship but also drives economic growth, job creation, and the financial independence especially for women and youth in Lesotho, aligning with broader goals of sustainable development.
Basotho Enterprises Development Corporation (BEDCO) was also a prominent participant at the conference, with Mr. Lemphane Lesoli addressing the opportunities that BEDCO offers to support the growth of small enterprises.
BEDCO’s programs focus on providing business development services, such as entrepreneurship training, incubation, and access to markets. Lemphane stressed the need for young entrepreneurs to take advantage of BEDCO’s incubation center, which offer a nurturing environment for startups to scale up. “We aim to create an ecosystem where small businesses can grow sustainably and contribute to job creation in the country,” he said.
The conference also underscored the role of women and youth entrepreneurs in Lesotho’s business landscape. The panel discussed how women and youth, especially in rural areas, are increasingly venturing into business but still face societal and structural challenges.
Another critical aspect discussed at the Sebabatso Conference was the role of technology and innovation in driving small businesses forward. Representatives from the Ministry of Trade, Industry, and Trade Development spoke about Lesotho’s growing tech ecosystem and how young entrepreneurs can leverage digital platforms to scale their businesses.
The ministry is working on several projects aimed at boosting digital literacy among young people, enabling them to tap into the global market.
As young entrepreneurs continue to face challenges, the Sebabatso Conference served as a platform to bridge the gap between opportunities and the youth’s ability to access them. The shared knowledge and resources from various organizations provided a comprehensive roadmap for aspiring business owners to navigate the often-complex world of entrepreneurship. With the right support and collaboration, the future of youth entrepreneurship in Lesotho looks promising.
The Sebabatso Conference concluded with a strong call to action for collaboration between government bodies, the private sector, and international partners. To truly unlock the potential of youth and small businesses, there needs to be a cohesive strategy that includes mentorship, funding, and policy support. The event ended on an optimistic note, with several organizations pledging to continue working towards creating an enabling environment for young entrepreneurs.