By Matṧeliso Phulane
The chief executive officer (CEO) of the Basotho Enterprises Development Corporation (BEDCO) Idia Penane has resigned from her position, and is believed to be moving on to another country which she did not disclose.
In an interview on the sidelines of a farewell party in her honour at ‘Manthabiseng Convention Centre last Friday, Penane could only say she will soon know where her next destination is and that it is a surprise for now.
Penane looked back on her two years at the helm of BEDCO.
“When I joined BEDCO there was a general loss of confidence in the corporation by stakeholders including the government. Over the years it struggled to offer the full range of service delivery for enterprise development, mainly due to limited resources, capacity challenges and lack of focus.
“Several programmes had been commenced but abandoned before they made an impact due to the changes in priorities and inadequate leadership support. Besides that, the work environment had deteriorated, thereby inhibiting the corporation from effectively reaping the required productivity from staff. This was due to the following: dilapidated office space, insufficient working tools, broken relationships between management and staff, and low performance culture,” she said.
In the two years of her tenure, Penane said she managed to acquire funding from the African Development Bank (AFDB) to implement several programmes to support Micro, Small and Medium Enterprises (MSMEs) including the commencement of an MSME development project, covering 1,350 MSMEs, and the award of more than 50 youth and women businesses with M100, 000 each seed capital.
Through a Business Plan Competition (BPC), the launch of another BPC to award another 50. The number of MSMEs to be developed significantly increased from those that were assisted in the past which were not more than 100 per annum.
She further explained that the corporation quickly implemented technology to enable remote work during the COVID-19 pandemic lockdowns.
In conclusion, she urged her team to remember their purpose for BEDCO as well as Basotho.
“There have been ups and downs; I have probably stepped on a couple of toes but it has however been with the best interests at heart. Please remember the role that BEDCO plays in Lesotho’s economy.
“Your ability to deliver is not only personal, but will contribute to changing the livelihoods of the less fortunate. As I would say consider each hour, day, week, and month; what can you can say you have delivered for eight to five hours.
“To the new CEO, in an organization like BEDCO people are your most important asset. You have a team that will do anything if you guide them, understand them, engage them, take an interest in them as people, push them when required and have fun with them after a day of hard work. Do not leave them behind; for we cannot succeed as leaders if we are unable to inspire our teams towards the vision that we see,” she urged.
Penane is a mother of two girls and a boy; she holds a Master’s Degree in International Business Administration and Finance, Bachelor’s Degree in Management Information Systems from United States International University.
She has 10 years’ executive leadership experience in Business Process Management, Program and Portfolio Management, Risk Management, Strategic Management and Technology Management. She has taken numerous roles at Lesotho Revenue Authority (LRA) since it commenced in February 2003. She has also served as a Short term expert at International Monetary Fund (IMF) assisting tax administration Southern Africa with strategy and Information Technology.
On behalf of the BEDCO staffers, the head of enterprise development Nthati Nyabela, hailed the positive impact Penane had made in a short period of time.
“She had changed our outlook, by accordingly categorizing the projects we have. She encouraged us to be accountable and focus on one thing, namely to bring the best out of what we do.
“What I have learned from her is she is a very committed person when it comes work. She always ensures that there are good strategic plans and implementation. Even if there are challenges she openly let everybody to learn from their mistakes.”
One of her milestones was creating partnerships between BEDCO and other stakeholders such as LRA, Standard Lesotho Bank, Post bank and Sekhametsi Consortium to assist youth people’s businesses with funds.
“We are indeed proud that BEDCO is well-known for helping entrepreneurs, unlike before when it used to make money from renting out buildings. Besides that, she has made us become more interested in reading about current affairs, especially those related to youth.
