Maseru, Sept. 18 — At least 1,400 jobs are expected to be created through the Inclusive Growth Facility (IGF), following funding of M100 million from First National Bank (FNB) to support two enterprises in the textiles and clothing subsectors.
This was said by the Minister of Finance and Development Planning, Dr. Rets’elisitsoe Matlanyane, in response to a question of Basotho Action Party Leader Prof. Nqosa Mahao in the National Assembly, regarding the M400 million allocated in the 2025/2026 financial year to support young Basotho in starting businesses, including the number of businesses that had benefited from the initiative and the current status of those enterprises.
Dr. Matlanyane said Vishan Clothing had been allocated M50 million, with the government guarantee of M30 million, saying the enterprise currently have 1,672 workers, and its planned expansion is expected to create an additional 800 jobs.
She added that Leo Garments had been allocated M20 million, with the government guarantee of M8 million, saying it currently have 900 workers and is expected to create 600 more jobs through its expansion.
She further highlighted that M300 million had been set aside under a second grant facility between the Government and Lesotho Post Bank, of which M18,795,552.91 had so far been approved.
She said at least 22 businesses would benefit from the loan facility, with beneficiaries drawn from various sectors, including agriculture, retail, tourism and hospitality, the creative industry, transport-related businesses and other commercial activities.
She explained that the supported businesses were selected based on their potential to create jobs, increase domestic production, promote agricultural development and manufacturing, and contribute towards economic diversification.
She also indicated that women are expected to constitute between 70 and 80 percent of beneficiaries under these two facilities.
The Inclusive Growth Facility was launched by the Prime Minister Mr Ntsokoane Matekane in November last year.
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