Launched in January, the funding competition is aimed at boosting small businesses to be in a position to sustain the on-going tough economic climate.
FNB Lesotho’s Chief Executive Officer Delekazi Mokebe has hailed the programme, saying that the bank fully understands the important role played by small businesses in communities they operate from.
“We are proud to successfully complete the first business competition and would like to thank every business that entered the competition. You play an important role in the survival of our economy and we believe that together we can overcome the many challenges that we face. Congratulations on being selected as part of the top 10. Let’s continue working on rebuilding our economy together,” Mrs Mokebe said.
In total, the company spent M1 million on the project, which also included the mentorship programmes for the participants.
Prizes in cash for the 10 winners ranged between M67 500 and M100 000.
From the entries, the top 20 finalists were given a one-day mentorship session which ensured that they were equipped to run and manage their businesses during the tough economic times.