Maseru
The World Bank has consistently supported Lesotho through various financing initiatives, from funding its electrification projects to promoting the growth of the business sector.
On some occasions, the institute has often found itself having to question what had happened to the funds that have been allocated to bring about developments in the country, but in some cases, it has had to pat the government’s back on a job well done.
This week, the World Bank Country Representative, DinaraDjoldosheva, beamed with pride as she stood before a multitude of investors, policymakers and entrepreneurs at the CAFI Demo Day, with an expression on her face that said the institute had no regrets in financing the project. At the CAFI mid-term update in the past week, the project’s Managing Director had said that the project’s audits were found to be very clean and all the money spent was traceable.
Therefore, the World Bank didn’t stutter when it said it was proud to have collaborated with the government on the project.
For the institution, the day was a celebration of innovation, resilience and the transformative power of entrepreneurship and a platform where creativity meets investment and partnerships are forged to drive sustainable growth.
“In a world where economic shocks and global uncertainties challenge us daily, entrepreneurship stands as a beacon of hope and driver of resilience,” Djoldosheva said, highlighting the importance of the CAFI project that stands as a testament to the Basotho’s commitment to fostering a dynamic and inclusive private sector.
With financing from the World Bank, the project has become a catalyst for entrepreneurship growth and job creation in the country, and its beneficiaries are not just the heartbeat of economic transformation but an inspiration for a new generation to pursue opportunities and create a lasting change.
Djoldosheva said CAFI’s achievements are a result of a healthy partnership; without collaborating, these achievements would not have been possible.
She said that in every area, to achieve transformation, unlock markets, attract investment and build an ecosystem that nurtures innovation, the partnership model was a critical component to add to the recipe.
She emphasised the World Bank’s pride in partnering with the government of Lesotho in its journey of financial inclusion and economic revival, “supporting the development of a business environment where innovation thrives and every entrepreneur has the tools and resources to succeed.”
In a rapidly changing geopolitical landscape, MokhethiShelile, the Minister of Trade, Industry and Business, said innovation and competitiveness were not optional but imperative, encouraging that entrepreneurs be equipped with all the necessary skills not only to adapt but to lead.
“That is why we continue to invest in platforms like the entrepreneurship hub to nurture talent, accelerate growth and position Lesotho as a dynamic player in the global economy,” he said.
For Prime Minister Sam Matekane, the demo day was a statement of confidence in the creativity and ambition of youth entrepreneurs.
Through projects like CAFI, Matekane said, the government they were committed to building an inclusive, sustainable economy empowered by the private sector through the extended NSDP II, not forgetting to express gratitude to the World Bank for funding the project.
“We place private sector development, job creation and digital transformation at the centre of our growth agenda. This hub brings that agenda to life by helping young innovators turn ideas into viable, scalable businesses,” he said.
The hub, central to the day’s events, has proven to strengthen the economic ecosystem by providing mentorship, networks and a collaborative space where entrepreneurs are presented with an opportunity to grow.
The Prime Minister said it was only through coming together, collaborating, that sustainable innovation could be built, “not through isolated efforts, but through a connected community.”
