Standard Lesotho Bank Unlocks Opportunities for Lesotho’s Youth Through Bacha Entrepreneurship Project
Standard Lesotho Bank in partnership with the Basotho Enterprises Development Corporation (BEDCO) and the Revenue Services Lesotho (RSL), has officially launched the 2025 edition of the Bacha Entrepreneurship Project, an initiative aimed at combating the alarming youth unemployment rate in Lesotho.
The launch served as an official call for proposals from young Basotho entrepreneurs aged between 21 to 35. Aspiring business owners are encouraged to submit their business proposals for an opportunity to receive financial support, either in the form of seed capital for new ventures or a capital boost to help scaleup existing businesses for expansion.
About M1 million has been allocated for the 2025 cycle of the project. Proposals are to be submitted electronically via the official email address: [email protected]. Submissions are welcome from all ten districts of Lesotho, and the project partners will embark on a nationwide outreach programme to ensure every eligible young person is informed and included.
Speaking at the launch, Mr Manyathela Kheleli, Brand and Marketing Manager, Communications and Sponsorships at Standard Lesotho Bank, stated:
“This project has been running successfully for the past eleven years, and we are extremely proud of the tangible impact it continues to make. What is remarkable about Bacha Entrepreneurship Project is that its benefits extend far beyond the direct recipients of funding. Many of our beneficiaries have gone on to create employment opportunities for others, supporting families and communities. The ripple effect is real and substantial.”
He further acknowledged the urgency of addressing youth unemployment, referencing the recent scenes at Makoanyane Barracks, where thousands of young Basotho gathered seeking limited positions in the Lesotho Defence Force (LDF):
“What we witnessed over the weekend is not just concerning, it is a crisis. Youth unemployment is a national pandemic. It is for this reason that we call on fellow corporates to partner in creating sustainable solutions. As a business that is at the forefront for developing Basotho businesses, the BEP project is just but one of our corporate social responsibility initiatives to uplift Basotho, which is in keeping with our purpose when we say, ‘ Lesotho is our home, and we drive her growth.”
To date, the Bacha Entrepreneurship Project has disbursed over M10 million in funding to youth-owned businesses across Lesotho. Beyond financial support, the project also provides critical training and mentorship, equipping young entrepreneurs with the tools and mentorship necessary to succeed.
SLB remains a leading force in youth empowerment, with additional programmes that provide young Basotho opportunities to showcase their talents both locally and internationally, including in South Africa and Eswatini. The bank continues to promote youth-led innovation and talent through events such as the annual LETOFE Lifestyle Experience and The Annual Small Stock Show: Wool & Mohair, among others.
Applications for the 2025 Bacha Entrepreneurship Project are open until 24 July 2025.