08 Mar 2015

Out of the 109 businesses funded by Citizen Entrepreneurial Development Agency (CEDA) in Selebi Phikwe, only 33 are operating while 76 have failed.

This was said by CEDA client service centre manager, Ms Koolopile Moapare when addressing the Selebi Phikwe full council meeting recently. She attributed the failure of the businesses to lack of knowledge in running business because in most instances the business plans were drafted or done by consultants.

Ms Moapare advised business operators to play a meaningful role in the drafting of their business plans to gain knowledge on how to run successful businesses. She said they encountered challenges of businesses that are non-compliant to loan agreements while some fail to pay back their loans.  

Ms Moapare encouraged Batswana to come up with viable business projects and seek services from CEDA. 

She said her organisation finances small to large scale businesses at reasonable interest rates, adding that Batswana aged 18 years and above with viable business projects are eligible for funding ranging from P500 to P30 million.

“We are concerned that Batswana who stay in Selebi Phikwe and surrounding areas are reluctant to utilise our services because we have a low number of funding applications from this area,” she said.

Commenting, Councilor for Botshabelo West, Mr Kago Motsemme requested CEDA to simplify its loan application forms for Batswana to understand.

In his presentation, African Alliance Movement Botswana (AAMB) business development officer, Mr Joseph Batsalelwang raised  concern that many Batswana were taking loans from banks but fail to invest their funds accordingly for future benefit.

Mr Batsalelwang said as AAMB they do corporate advisory, security broking, insurance, private equity and property investment and people are encouraged to seek business advice from his organisation.

The AAMB have short term and long term investment (liquidity fund) with high interest return upon dividends payment, he said.

He encouraged councillors to invest their funds as investment creates a stable financial ground which leads to no financial constraints even after retiring.

Mr Batsalelwang encouraged Batswana to venture into investments such as purchasing of shares from the Botswana Stock Exchange among other business opportunities. ENDS