| Overview : Lesotho, like other low-income countries around the world has been hit economically by the novel Covid-19 pandemic. Pre-COVID 19, the country was already experiencing an economic recession, since 2017, with increasing socio-economic challenges such as unemployment which affects 27% of women. The IMF shows that the economy of Lesotho contracted by 4.5% in 2020 which came as a result of the public health measures that were put in-place to contain the spread of the virus and its impact, especially the heavy burden that it had on the health system. To address the persistent development challenges and impacts of COVID-19, Government of Lesotho aims to promote sustainable economic growth and a private sector led job creation. However, private sector in Lesotho is under-developed and largely comprised of MSMEs. According to the Lesotho Bureau of Statistics Business Register (2014), MSMEs account for 76% of the private sector economic activities largely in the informal sector. Self-employment is also a dominant form of employment in MSMEs and the informal economy. MSMEs provide jobs to 118,130 Basotho of whom 59% are women and 83% are self-employed owners. Small enterprises mostly have been recorded to lack general business management skills including sound financial management acumen. All Applications can be send to ls.procurement@undp.org on or before deadline |
