Fund for African Private Sector Assistance

FUND FOR AFRICAN PRIVATE SECTOR ASSISTANCE

BACKGROUND

The African Development Bank Group (AfDB) and the Lesotho Chamber of Commerce and Industry (LCCI) signed, on 1st February 2018, a Fund for African Private Sector Assistance (FAPA) grant agreement of USD 915,000 to finance the Economic Diversification Support Technical Assistance Project (EDSTAP). The objective of the Project is to improve the institutional capacities and effectiveness of business associations in Lesotho by improving partnerships, building capacity and delivery business development services. This project will contribute towards developing a conducive environment for private sector development by strengthening business associations and networks to meaningfully participate in national and sectoral dialogue and foster cooperation among Basotho entrepreneurs and with government.

The Project has four (4) components:

  • Component 1: Institutional Assessment of Business Associations ‘needs, capacity, relevance, delivery and Networking of Stakeholders
  • Component 2: Development of shared services and Business Development Support
  • Component 3: Strengthening Private-Private and Private-Public Dialogue;
  • Component 4: Project Management and Co-ordination.

The main project implementing partners and beneficiary Associations include:

  • SMME Support Network, Lesotho Micro Finance Association,
  • Lesotho Hotels and Hospitality Association,
  • Youth Entrepreneurship Forum,
  • Lesotho Federation of Women Entrepreneurs,
  • Maseru Block Farming,
  • Lesotho Chamber of Commerce and Industry, and
  • Private Sector Foundation.
  • The project will be implemented over a period of two years. The Lesotho Chamber of Commerce and Industry is the lead executing agency and will work closely with the beneficiary institutions.