By Neo Kolane
Standard Lesotho Bank (SLB) says it will vigorously support Basotho entrepreneurs and catalyse business through a pivoted event called Scaled-Up Pitching Den.
The event which is aimed at fortifying support and fostering regional integration for the entrepreneurs across Africa is taking place on Tuesday next week in Maseru.
A statement issued by SLB on Tuesday this week says the ground breaking initiative underscores the bank’s unwavering commitment to empowering local businesses, especially the youth.
The event will provide a platform for finalists in the Bacha Entrepreneurship project cohort who are currently active in their respective businesses.
Its objective is to identify a standout young entrepreneur who will proudly represent Lesotho at the prestigious Africa Business Banking Awards, scheduled for April 2024 in Kenya.
The young and ambitious entrepreneurs are allotted 10 minutes each to present their business pitches, followed by an engaging five-minute question and answer session involving both the audience and a panel of esteemed judges. Noteworthy adjudicators include Rethabile Shale, director and shareholder at an entrepreneurship network, Paseka Mokoatsi, founder of PDollar Entrepreneurship Centre, and Libako Mohapi, a senior entrepreneurship officer in the ministry of gender youth sports and recreation.
Their expertise ensures fair and insightful evaluations, promising a stimulating showcase of Basotho entrepreneurship excellence.
The brand and marketing manager of communications and sponsorships at SLB, Manyathela Kheleli in a statement said the stakes are high, with one finalist set to win an all-expense-paid trip to Kenya.
Kheleli noted that this generous reward not only celebrates individual achievement but also aligns with the bank’s commitment to showcasing Basotho talent on a global stage, giving them exposure and life- changing networking platforms.
In addition to the grand prize, the bank will also award two prizes to runners up of M10,000 and M5,000 for the second and third places respectively.
“Standard Lesotho Bank, as the proud pilot of the event, remains at the forefront of transforming dreams, ideas, and visions of Basotho entrepreneurs into reality.
“Our pioneering spirit is evident in our status as the first bank in Lesotho to offer digital loans specifically tailored for small and medium enterprises.
“We have also invested millions in many activities that promote Basotho in the business arena, such as the Bacha Entrepreneurship Project, the Construction and Infrastructure Lekhotla and now the Scaled-up Pitching Den that is going to expose an aspiring entrepreneur to the African Continent,” Kheleli indicated.
He added that this strategic move provides Basotho with unprecedented opportunities to turn their aspirations into tangible successes, create jobs, and contribute significantly to the nation’s economic growth.
Notably, he pointed out, the bank’s commitment goes beyond financial support, as it seeks to create a conducive environment for Basotho entrepreneurs to thrive.
“Standard Lesotho Bank firmly stands as the undisputed go-to bank for entrepreneurship in Lesotho, with a distinctive passion for youth and entrepreneurial endeavours. Through initiatives like the Scaled-Up Pitching Den, the bank not only elevates individuals but also plays a pivotal role in shaping the landscape of business in the region,” Kheleli concluded.
