Moroke Sekoboto
BASOTHO Enterprises Development Corporation (BEDCO) and the Lesotho Institutes of Accountants (LIA) have partnered to provide Small, Medium and Micro Enterprises (SMMEs) with enhanced support to help improve their chances of success.
The two organisations signed the Memorandum of Understanding (MoU) at BEDCO premises in Maseru on Tuesday.
BEDCO’s Acting Chief Executive Officer, Tṧepang Tlali, said the partnership would enable them to provide SMMEs with business development support services.
“These services will encompass a wide range of crucial areas such as financial management, accounting, and strategic planning. By leveraging the knowledge and enthusiasm of LIA’s experts, we aim to bridge the gap between classroom learning and real-world application,” Mr Tlali said.
Mr Tlali said this support would provide SMMEs with access to high-quality expertise that they would otherwise not have had.
“SMMEs will receive guidance on financial planning, record keeping, budgeting and accounting which are foundational elements of any successful business. This support will enable our entrepreneurs to make informed decisions, manage their resources more effectively, and ultimately, achieve sustainable growth.”
He said the collaboration would foster innovation and creativity.
“When young talented professionals from LIA work hand-in-hand with our SMMEs, they bring fresh perspective and innovative ideas to the table. This synergy of experience and innovation will drive forward-thinking solutions and help SMMEs remain competitive in an ever-evolving business environment,” Mr Tlali said.
He further said the collaboration would create opportunities for mentorship and skill development.
“LIA’s trainees will not only provide support but also learn from SMMEs experience. This exchange of knowledge will enrich the learning experience of the trainees and contribute to the development of future accounting professionals.
“This MoU is not just a piece of paper, it is a commitment to change, growth and empowerment. It is a promise that BEDCO, LIA and our vibrant SMMEs community will work tirelessly to build a brighter future for entrepreneurs,”.
LIA CEO, Lethola Mokete, said, through the Accountants Act of 1977, they were able to regulate the accountancy practice in Lesotho.
“Our mission is to develop, enhance and effectively regulate the accounting profession in Lesotho through; provision of internationally recognized education and training programs, as well as ensuring compliance,” Ms Mokete said.
He said they had been working with the National University of Lesotho, the Centre for Accounting Studies and Botho University to ensure that accountants remained ethical.
“We aim to determine the qualifications of persons for admission as members, to provide for training, educational and examination by the Institute or any other body of persons practicing or intending to practice the profession of accountancy, to set the standards and rules governing the practice and ensure that compliance with these is maintained.
“We are grateful to BEDCO for partnering with us. We truly embrace the partnership and hope that it will be successful in geting good results. We will capacitate and add value by ensuring that they remain ethical and they have good moral compass,” Mr Mokete said.
