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Standard Bank initiative promotes NSDP


Nthatuoa Koeshe

STANDARD Lesotho Bank Chief Executive Officer, Mpho Vumbukani, says the bank is playing its part towards employment creation, financial education and inclusion as spelt out in the National Strategic Development Plan (NSDP).

Mr Vumbukani said this at the recent launch of the bank’s Enterprise Hub at Maseru Mall.

The NSDP was developed by government as a framework to facilitate accelerated and sustainable economic and social transformation in Lesotho.

It represents renewed commitment and strategic guidance towards the creation of a development environment that is characterised by political stability, effective development management that permits the attainment of social, economic and environmental goals and a competitive investment climate that results in high employment creation and prosperity for all.

Addressing the launch, Mr Vumbukani said the Enterprise Hub testified to the bank’s commitment to ensuring the growth of local businesses and ultimately the national economy.

“With the launch of this hub we are laying bare our testimony as Standard Lesotho Bank that we are very committed to Basotho businesses and the growth of the country’s economy,” Mr Vumbukani said.

He said the hub provided the requisite infrastructure for entrepreneurs, setting the stage for them to dream about how they could make Lesotho the envy of other countries in the region in terms of entrepreneurship and the eradication of unemployment.

“We challenge entrepreneurs to make use of this space to probe their entrepreneurial minds so that they can lead the way with homegrown solutions and ideas that can make our economy more vibrant and bring solutions to the challenges that we have as a country.”

For his part, the Head of Enterprise Banking, Teboho Sello, said the hub gave entrepreneurs access to free internet, business information and office space.

He revealed that entrepreneurs would also receive free skills training in financial management and marketing among others to support them to grow their businesses.

“There is also access to important information such as open tenders in the market, economic growth and all information that can help the entrepreneurs at the hub.”

Addressing the same event, a representative of the business community, Sam Matekane, said the initiative came at an ideal time when businesses were falling apart leaving young people unemployed.

He said young people should create jobs either individually or in cooperatives instead of looking for employment.

“What Standard Lesotho Bank has opened today will go a long way to ensure that startups are managed well in order to prevent failing businesses,” he said adding, that a business that is built on a solid foundation had fewer risks of failing.

“It is through empowering entrepreneurs that sound and solid small and medium enterprises can be built.

“If that can be mastered, I am sure that our economy will thrive without declining,” Mr Matekane said.


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