27 Jan 2016

The Assistant Minister of Trade and Industry, Mr Sadique Kebonang, has advised the Selebi Phikwe Multi-Purpose Co-operative Society (SPMPCS)  and the Selebi Phikwe Miners Savings and Co-operative Society (SPMSACCOS) to apply for funding at CEDA when they venture into business projects.

Mr Kebonang said this recently when he visited cooperatives in Selebi Phikwe. He said CEDA was setup to fund local businesses, adding that it offered loans at a low interest rate than commercial banks.
Therefore, he advised co-operatives to consider engaging CEDA first before attaching themselves to commercial banks.

He also encouraged the co-operatives to work hand in hand with LEA to get guidance. Mr Kebonang commended the two co-operatives for keeping their businesses afloat, noting that most of such organisations around the country had collapsed.

He said he was impressed that SPMSACCOS had fully fledged offices. He observed that their offices were fully equipped with computers and other office equipment, which demonstrated that they took their business seriously.
Regarding SPMPCS, he said he was proud that the co-operative’s board members managed to keep the business afloat since its inception in 1972.

He lauded them for being innovative and keeping up with the ever-changing business environment.

He also commended them for investing in property and infrastructural development within Selebi Phikwe, through which they had been able to generate revenue through leasing some of the property to the retail market.

For his part, the chairman of SPMSACCOS, Mr Thatayotlhe Mpule, said the project they ventured in with the SACCOS team in Lobatse to setup a building to host a supermarket and other retailers as well as to establish a fuel station was in progress.

He noted that the budget estimate for the project was roughly P15 million. He said they had approved drawings for both the supermarket buildings and the fuel station.

Their intention, he said, was to raise funds so that the fuel station could be operational by the middle of the year. Mr Mpule explained that his organisation had identified Choppies as the anchor tenant. He noted that PEP Store and Puma Energy were also approached to come on board. Ends