In a significant achievement for the Competitiveness and Financial Inclusion (CAFI) initiative, entrepreneur Neo Fekefeke has expanded his business, M&N Enterprise, after being incubated under the CAFI program by the Ministry of Trade and Small Businesses. This development highlights yet another success within the CAFI framework, reinforcing its role in fostering business growth and job creation.
With this expansion, Fekefeke is set to hire approximately 50 additional employees, with work and orders already secured for them. A member of the second cohort of the initiative, which began in June 2024, Fekefeke reflected on his entrepreneurial journey, noting that he started his business in 2019 and officially registered it in 2022. Initially a solo embroidery operation, the business has since grown to employ 12 people.
Recently, the trending phrase in business circles has been #RebulaLiFeme, meaning “We’re opening firms.” However, what makes M&N Enterprise stand out is that it is fully owned by a Mosotho entrepreneur, demonstrating that local businesses can thrive and contribute to employment growth.
Sharing his experience with the CAFI incubation program, Fekefeke highlighted the invaluable knowledge he gained, particularly in business establishment and financial management. These skills have strengthened his ambition to serve both local and international markets while ensuring sustainable employment.
With this expansion, M&N Enterprise is positioned to make a greater economic impact, further contributing to job creation and business growth, an achievement worth celebrating within the CAFI network.
Speaking at the event, Minister of Trade and Small Businesses Mokhethi Shelile affirmed that his objectives are being realized. He noted that reopening factories has been a priority and continues to be achieved. Another key goal is the establishment of cottage industries, with hopes that at least 20 will be operational by March, supported by Enterprise Support Organizations (ESOs) within CAFI.
Shelile also addressed potential shifts in trade dynamics, particularly with possible changes in U.S. policies under Trump that may affect AGOA. He suggested that Lesotho should focus on securing the South African market, as South Africa is increasingly sourcing products locally to cut costs. Citing Ethiopia as an example, he noted that despite no longer benefiting from AGOA, the country remains a major global supplier.
He further emphasized the pride and significance of wearing locally branded products labeled “Made in Lesotho”. Shelile concluded by announcing that his party’s committee will soon convene to discuss job creation as a priority agenda item.
Representing CAFI, Hub Manager Nts’epeng Ts’ita Tikiso reaffirmed that job creation remains the core mandate of the initiative, a goal that continues to be met. She emphasized that if the government invests in and supports its youth, employment opportunities will naturally follow. Quoting a Sesotho proverb, she remarked, “Moketa ho tsosoa o itekang”, meaning those who put in the effort receive assistance. Ts’ita also highlighted that this marks the first time the government is actively involved in nurturing local businesses, stressing the importance of prioritizing women and youth.
CAFI is a five-year initiative aimed at supporting startup businesses. Launched in September 2022, the program is set to run until April 2028, with the goal of fostering entrepreneurship and economic growth.
