12 Oct 2015

 Citizen Entrepreneurial Development Agency (CEDA) is in the process of minimising requirements for small micro business in acquiring funds.

Requirements had been standard at different business levels as stipulated in the organisation’s guidelines.

Presenting before the Parliamentary Statutory Committee, CEDA chief executive officer, Mr Thabo Thamani said the organisation’s guidelines, which were approved in 2008 stipulated the requirements, hence they followed them.

A committee member, Mr Ndaba Gaolathe, had asked if CEDA did not consider lessening requirements for micro businesses such hawkers when they required funding.

However, Mr Thamani said they had conducted an exercise on the issue and found that such people were marginalised by the requirements.

He said they benchmarked in countries such as Kenya and the Philippines, adding with such an exercise, they felt it would address issues of criteria at different levels.

On other issues, CEDA was asked if they would consider subsidising interest rates for farmers in areas with Foot and Mouth diseases or red zones and also what percentage share the organisation invested in Agriculture.

In response, the CEO said currently, agriculture was at 40 per cent, and noted that the essence of Young Farmers Fund was to inspire youth into farming and to fill the gap that was left by the old farmers. Ends