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FNB gives M1 million to small businesses

Mafa Moleko

First National Bank (FNB) of Lesotho and The Entrepreneurs Network (TEN) announced the winners of the Covid-19 Business Competition this week, on Tuesday April 27, 2021 at an event held in Maseru.

At the event some 10 business persons and their companies were celebrated for their brilliance and intelligence enabling then thrive in business regardless of prevailing situations.

When congratulating the winners, Delekazi Mokebe the FNB CEO, said they are proud to have successfully completed the competition. She congratulated those who were selected to the top ten for their hard work and endurance throughout the competition. She further thanked all the participants who took part in the competition.

She said the contribution by competitors in the economy of Lesotho is very profound. “Your contribution plays an important role in the survival of our economy,” she added.

Mokebe also encouraged the winners to join hands together with the FNB in building the economy of Lesotho. She further explained that FNB is ready to walk through this journey with the entrepreneurs to achieved this goal.

According to Liteboho Mojakhomo Project Manager at TEN, the project was established in the beginning of this year as a response to Covid-19 crisis to the local businesses.

She also explained that FNB and TEN made the public calls to the small businesses to join the marathon. Furthermore, she added that the awards come after the semifinals where the top ten were chosen amongst 20 finalists.

“People were asked to explain how their ventures were impacted by Covid-19 and we thought of how we can help them” said Mojakhomo.

She further noted that even though the project is at the awards juncture, this is however the beginning of their iconic journey between them the entrepreneurs. She said that they will be monitoring these businesses to their best growth.

“Our journey with these entrepreneurs does not end here, not only with those who made it to the top ten but all who participated in this project.” Mojakhomo added.

Companies that were selected to the top ten are Dingane Super Tech Construction, House Linford, Mellow snackBar, Mofoka agri Projects, Chembi Manufacturing, Kuna sounds, Ralebakeng farm produce, Monono farm, Lehakoe Seed Company and Turn Incorporate.

Tšireletso Mojela, Deputy Principal Secretary of the Ministry of Trade and Industry said private sector is the pillar of the economy in this country. She thanked FNB for helping the government and Basotho through projects like this one. She concluded by congratulating the winners for their success.

Giving thanks on behalf of those who participated in the project, Neo Sethesa from House of Linford, said it was not easy but they managed to work to end of the journey. She thanked the two partners FNB and TEN for the opportunity granted to them.

Dingane Dingane from Dingane Super Tech Construction lauded FNB for a great initiative adding that this is the first time a bank does this to small businesses.

“I know banks for taking money not giving it to us, but what FNB has done here is amazing to me,” he said.

He gave thanks to FNB Lesotho for all the lessons they acquired and the financial support they gave to them, he further noted that this will help them grow and be able to help those who will be needing help also.

All the companies in the Top-10 each received M100 000 to grow their initiatives and certificates as an honor to what they have done in this project.

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