IT is high time local entrepreneurs took advantage of the opportunities presented by giant companies such as Vodacom Lesotho in growing their businesses and excelling to reach new heights.
July 18, 2022
2 min read
Let big corporations lead the way
- Vodacom is offering prices worth M1 million for start ups
- Small business fight to improve Lesotho’s economy
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The company has joined the global initiative, the Entrepreneurial World Cup (EWC) which is a global incubation contest open to aspiring young entrepreneurs across the world to pitch their business startup ideas online on the global stage for a share of US$1 million (about M16 million) in prices.
As the national host, Vodacom is offering prices worth M1 million in cash and kind towards the best top five startups from Lesotho with the grand price set at M200 000. The two best runner-ups will take home M100 000 while the other two best performers will pocket M50 000 each.
The prices will also include 1-year incubation, coaching, coaching, mentorship and international study tour. Micro, Small and Medium Enterprises (MSMEs) as well as other aspiring entrepreneurs are now more than ever in a good space to develop their businesses both financially and in skills development, thanks to efforts made by Vodacom Lesotho through its foundation.
This should no doubt be a lifetime opportunity for the MSME sector that has over the years been challenged by issues such as access to finance and market opportunities to make an impact.
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This happens while government has failed numerous times to assist local startups towards establishing their businesses. The only thing that government has been doing over the past years is just to make empty promises that are linked towards levelling the playing field for the private sector to develop and stimulate the economy, however, to this end, such efforts, if any, have failed to yield any results. With the state, it is just promises each and every given opportunity with no action in place.
Perhaps that is why we are advocating for startup businesses in the country to take full advantage of the opportunities offered by the private sector if they are to reach new heights. This, will in a long run benefit many people through job creation and economic emancipation. At this time, the very same government will come and claim to have created jobs for the people, fortunately though, many would have noticed by then that big companies in the private sector are making significant impact.