Access to finance remains a key challenge for young start-up entrepreneurs. To address this, the Basotho Enterprises Development Corporation (BEDCO) through the Youth Development Programme has collaborated with Sekhametsi Investment Consortium and Lesotho Post Bank to launch the Smart Youth Fund Project. The project seeks to redress unemployment among the youth and intends to breed a crop of entrepreneurs who can inspire change and prosperity by becoming the creators of jobs and not job seekers. The project will provide funding to youth-owned businesses and/or businesses that indicate high potential to benefit youth. In this first year, the pilot phase will focus on Agri-based businesses mainly the producers and aggregators in the value chain of horticulture industry.
The Smart Youth Fund will facilitate access to finance and provide business skills support to high potential Agri-based small, and medium enterprises (MSMEs); focusing on producers and aggregators of enterprises that have a direct impact on job creation and the local economy.
BEDCO is calling entrepreneurs to submit viable, sustainable and profitable business proposals to stand a chance to be financed with M100,000,00. Only three (3) qualifying businesses will be financed through this fund.
WHO IS ELIGIBLE?
-Applications are open to all competitive businesses in horticulture preferably young entrepreneurs between the ages of 18-35. Non-youth applications are also encouraged to apply if their businesses demonstrate clear support to youth in terms of employment creation or business support to youth owned businesses.
-Applicant must be a Mosotho.
-Must have a viable Agricultural based business venture.
-Must be an existing aggregator or a producer of horticulture products.
-Must have a business that has been in operations for at least 2 years.
-Must be scalable and indicate growth potential.
EVALUATION AND SELECTION PROCESS
Proposals will be selected on merits based on viability, a strong business case, scalability and longevity. A panel of competent and experienced adjudicators will review and appraise all submitted proposals.
Interested and aspiring Basotho youth owned enterprises should submit their completed proposals electronically on the link provided:
https://forms.gle/WLb3CM76cSXrCBiU6 and copies of supporting documents such as ID and other relevant documents that are deemed necessary must also be uploaded for reference. Each applicant should submit only one proposal. Terms & Conditions APPLY (Ts & Cs can be accessed on the application link).
THE FINAL DATE FOR THE SUBMISSION OF PROPOSALS IS 31ST JULY 2022. For further inquiries, contact Mr. Tyhali on +266 6830 0210 or Ms. Lengeta on +266 5877 3007