13 Mar 2017

Minister of Investment, Trade and Industry Mr Vincent Seretse says government is committed to addressing the development challenges of poverty, unemployment and income inequality.

The minister implored Batswana to be business-minded in order to tap into the available economic empowerment opportunities and said it was through entrepreneurship that community members could bring developments to their areas.

The minister who is also Member of Parliament for Mmopane/Lentsweletau constituency was launching Citizen Entrepreneurial Development Agency (CEDA)’s two mobile offices, which comprised two minibuses in Mmathethe on Thursday.

The minister said in order to address economic challenges they needed an accelerated economic growth to make it possible to create jobs that the country desperately needed.

He said economic diversification should remain amongst the national economic priorities.

He said CEDA had a responsibility to address the need for coherent and holistic support for the development of small, medium and large scale enterprises through various products and services.

He said Botswana had opportunities in tourism, agriculture and mining, among other economic activities and entrepreneurial desire that if developed, the country could create employment.

He said CEDA offered funding for capital expenditure and working capital in new and existing business ventures, adding that it also offered training and mentoring for new and seasoned entrepreneurs in various areas as identified through the needs assessment conducted during appraisal and monitoring.

“Entrepreneurships provides an alternative source of income other than formal employment. Through CEDA it is possible to realise a dream of owning a busines. However dedication, commitment and hard work have to come from you as the business owner and not from CEDA,’’ he said.

He further stated that businesses faced numerous challenges some ofwhich were external factors over which enterprises may have no control as well as internal aspects relating to the capacities and abilities of entrepreneurs.

Mr Seretse added that the internal factors includeed lack of management, skills, limited information and understanding of markets.

CEDA chief executive officer Mr Thabo Thamane announced that the agency had brought Mabogo-Dinku product to assist micro-entrepreneurs.

He said the product had funded 243 individuals to the value of P2.4 million. He said the agency had earmarked P20 million for the product during the year 2017/18 financial year.

Mr Thamane said Mabogo-Dinku assisted people with aspiration of starting a business and they could group themselves into groups of five to 15 people and could receive loans from P500 to P150 000 each and further said Mmathethe had been allocated P7 million while Mosi farms was allocated P41 million.

He implored residents of Mmathethe and surrounding villages to take advantage of that opportunity in an effort to empower themselves and improve their livelihoods. He said Southern District had been allocated P300 million.

He said the mobile offices were fully equipped with both officers and information equivalent to any 10 branches located around the country.

Mr Thamane indicated that the advantage of mobile offices was that CEDA came to the various areas as part of its outreach programme to sensitise Batswana on its mandate, products and services. He said  it was their desire to have every Motswana understand the economic development opportunities availed by CEDA. ENDS