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FNB spends M1 million to fund competition

FNB Lesotho's CEO Delekazi Mokebe

April 27, 2021 2 min read

2 min read

THE First National Bank (FNB) Lesotho on Tuesday announced the top 10 winners of the COVID-19 business funding competition in response to the impact the pandemic has had on local businesses.

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.

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Speaking on behalf of the winners, Neo Sekhesa from the House of Linford said while the competition was not easy, the initiative has however, helped many small businesses to be in a position to fight for survival in these difficult circumstances.

“It was not easy, but all the top 20 finalists have what it takes to keep growing their businesses. Starting a business is the easiest part but growing it is the most difficult part and therefore, we thank FNB Lesotho for this initiative,” Sekhesa said during the event on Tuesday.

Other small businesses which were among the 10 winners included Dingane Super Tech Construction, Mofoka Agri-Projects, Monono Farm as well as Kuna Sounds.

There were also Mellow Snack-Bar, Ralebakeng Farm Produce, Lehakoe Seed Company and Chembi Manufacturing.

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