BEP Awards Top-5 Business with M963,746

Bacha Entrepreneurship Project (BEP), a collaborative effort of the Revenue Services Lesotho (RSL), Standard Lesotho Bank (SLB) and Basotho Enterprises Development Corporation (BEDCO), concluded its 2025 journey by recognising outstanding entrepreneurs in this year’s cohort in Maseru on Thursday. 
Acting Commissioner General of the RSL, Rakokoana Makoa, said the awarding ceremony was a celebration to honour entrepreneurs who continue to shape the entrepreneurial landscape of Lesotho while also acknowledging their achievements in this remarkable journey. 
He said the project has become more than just a funding initiative but “a platform where ideas are nurtured, potential is recognised and the future of our economy is steadily being rewritten by young innovators with bold ambitions”. 
Just in the year 2025, a total of five exceptional startups joined the BEP, adding to the existing 38 businesses that have been supported by the initiative. 
Each of these entrepreneurs, CG Makoa said, represents a story of hope, determination and progress. 
“The project has invested over 10.4 million in the same capital and generated more than 200 jobs,” he informed, however, expressing disappointment in the 11 businesses that were financed by the initiative but closed down. 
He said despite the challenges faced, they stay determined to strengthen their support systems as they continue to polish the project, an inspiration sparked by the rising number of businesses that continue to thrive, speaking to the resilience of entrepreneurs and the value of intentional, well-structured empowerment.
CG Makoa applauded the power of collaboration, saying the milestones the project has reached were not achieved in isolation, extending gratitude to the collaborative partners that have always ensured the success of the BEP. 
“The collaboration between RSL, Standard Lesotho Bank and BEDCO remains at the heart of BEP’s success. SLB and BEDCO have walked this journey with us since the beginning and they have done so with so much loyalty and dedication,” Makoa said.
The work of the three institutes in the project is to ensure that funded businesses receive guidance, monitoring and financial stewardship, all essential elements needed for the sake of growth. 
For RSL, Makoa said, initiatives like the BEP reflect a broader mandate that goes beyond BEDCO. The authority supports entrepreneurship with an understanding that this is a way to strengthen the foundation of the country’s economy, widen the tax base in a sustainable way and contribute to the long-term national development. 
The CG said the authority currently has about 150,000 taxpayers and the wish is to grow this number to 200,000, a target that will ensure everyone pays their fair share of tax.  
“Therefore, every thriving business is a building block for a stronger result,” he said. 
In the eyes of the RSL, the awarding ceremony was a recognition of potential and readiness for entrepreneurs to grab the opportunity presented to them and the advantage of the open business landscape.
‘Mamotipi Raletlala, one of the adjudicators in the selection criterion of the finalists, said this year alone they had 465 entrepreneur applications, but they only assessed 200. 
“After the screening process, each applicant had to assess 80 business plans, from which the top 50 had to be selected,” she said, saying that from this selection, the applicants had to undergo training to function or refine their business plans to be assessed for the top 15 which qualified them for the next level.
The top five winners were supported with a combined funding value of more than 1 million pounds, an investment that represented more than just financial support but an affirmation of a belief in the potential and creativity of the pursuit of Basotho youth. 
It was revealed that the success rate of entrepreneurs under the BEP is more than 70 percent, with projections indicating that entrepreneurship development, especially in small businesses, has an extremely high failure rate. Therefore, achieving a success rate of more than 70 percent is remarkable.
Acting CEO- BEDCO, Tṣ̌epang Tlali, highlighted their role in the project, informing that it entails coordinating all project activities. 
He said the programme has existed for over a decade and although it is often classified as relatively small in terms of funding, it has recorded tremendous impacts.  
One example of the notable impacts is the successful incubation of more than 100 enterprises, an achievement that ushered in new entrepreneurship components in the programme. 
Since 2014, the project has invested over M10 million, supported 33 youth-led businesses and created over 200 jobs. 
The BEP, as celebrated in this milestone, continues to be a cornerstone of collective commitments in measuring innovation, empowering young people, and stimulating sustainable economic growth in Lesotho. It targets Basotho youth aged between 21 and 35 who have completed their high school studies, are unemployed and have a passion for entrepreneurship. 
The project represents possibility, partnership and progress for entrepreneurs in Lesotho. The strides that were celebrated were therefore meant to fuel the determination to remain innovative, collaborative and committed to creating opportunities for many others to innovate.