A young entrepreneur with keen interest in invention, Pitso Vincent Nkhetse has joined hands with other youth to establish a company which is involved in mineral exploration. The company, Les Young Diamond Entrepreneurs (LYDE), is still in its infant stage but has huge dreams. Nkhetse who holds the position of chief executive officer says LYDE’s main aim is to empower Basotho youth so that they can make a meaningful contribution to the country’s economic development through mining.

theReporter recently caught up with Nkhetse to find out more about the company after he and his colleagues attended a week-long youth conference and expo dubbed Sebabatso in Maseru. LYDE participated at the conference held at the ‘Manthabiseng Convention Centre.  The Sebabatso initiative was launched by government with the support of the United Nations (UN) to address economic hurdles faced by young entrepreneurs in the country.

Also known as the Prime Minister’s Initiative for Youth Empowerment, Sebabatso (a marvel) seeks to promote and expedite the growth of innovative youth-driven businesses.

It also aims to prepare young people for national and international investment opportunities.

The initiative further focuses on leveraging entrepreneurship as a potent tool for economic transformation, particularly in fields such as agriculture, arts, science, technology and tourism.

Government believes that with Sebabatso, Lesotho is taking a proactive step towards creating sustainable employment opportunities for its youth, fostering innovation, and setting the stage for significant economic growth.

Please tell us about yourself.

My name is Pitso Vincent Nkhetse, a Mosotho man born in Maseru. I reside at Ha Mabote in the district of Berea where our company LYDE is located.

I am a curious metallurgist, self-taught geoscientist, and a patriot concerned about the development of our country. I am highly interested in fields such as mining, agriculture, soil preservation, water and sanitation, as well as creating green energy, among other things.

What is your standing in LYDE and what is its mandate?

I am the CEO of Les Young Diamond Entrepreneurs (LYDE). The company was established on June 2023. LYDE is a group of Basotho youth who legally surrendered some diamonds to the government under the amnesty law ahead of the formation of a policy and laws on artisanal and small-scale mining.

LYDE is a mineral exploration company which aims to prevent extortion, do market research on mineral refiner and other mining services from pre-feasibility studies to mine closure.

How did the idea of forming such a company come about?

We are concerned about how the country’s minerals are not utilized. Lesotho is still classified as a poor nation despite having natural resources like ziolite which makes solar panel and absorbs heavy metals such as oil. Again, there is what is known as calcite which is animal feed, soil organic fertiliser, water treats and building structures and yet all these are still not mined for the country to grow economically.

As CEO, I am currently studying diamonds and diamond grading at Corlia Roberts Institute of Diamonds in South Africa. I am also a dump truck 777 and tractor loader backhoe (TLB) operator.

What has the company achieved since its establishment?

LYDE has accumulated research visuals and sampling of all listed minerals in the country. We have also made connections with Corlia Roberts to assist us in all aspects involving mining activities, which are our main focus. We have also connected ourselves and gaining mentorship from Zambia’s Leonk Mining Consultants. We are also looking forward to auctioning some of our surrendered diamonds by the Lesotho mining ministry.

You and your colleagues attended a recent expo organised for the youth to display their potential and engagements in business development activities. What did you learn?

We analysed and learnt more about pitching our works, which was our first experience. We also learned that everyone has a chance in life. One should work hard to achieve their plans and withstand positive criticism.

What are the company’s future plans?

Moving forward brings us to a point of continuous mineral data collection regardless of obstacles. We are also planning on raising enough funds to publicise the company to Basotho youth while opening up space to be known across the African continent and perhaps worldwide.

What assistance are you getting?

We have hosted Leonk from Zambia for a week. They are gladly willing to help us do some feasibility studies on at least 14 kimberlite sites across the country. We are hoping to have a geological report in order to attract potential investors both in and from outside the country.  We need assistance in education and marketing in all forms, and some capital to conduct a comprehensive mineral research. We also need funds to build a laboratory to test the resources that we discover in our operations.