23 May 2019

 A total of P5 million has been set aside to pilot the project facilitation fund starting next month.

Speaking at the launch of the fund, Minister of Investment, Trade and Industry, Ms Bogolo Kenewendo said CEDA and LEA collaborated to develop a project facilitation fund meant to provide pre-project funding for high impact projects in the SMME space.

Ms Kenewendo divulged that the fund aimed at facilitating high impact start-ups or existing businesses to develop and submit bankable business proposals to prospective financiers such as  CEDA or commercial banks.

She said to effectively contribute to the attainment of Vision 2026, where Botswana’s economy would be diversified and private sector led with sustainable and viable opportunities, the ministry had refocused its implementation approach through a three pronged apex model: SMME development, investment promotion and export development.

She rallied the private sector and individual business owners to ensure that the fund becomes a success by donating to it.

Among the commitments of the fund are; to complement government’s commitment to implementing progressive doing business reforms, to relieve SMMEs of the regulatory burden and transaction costs of projects.

Furthermore, she said it was to de-risk projects and facilitate progression from development through to bankability.

The minister divulged that for the first time in many years, CEDA had managed to surpass its debt collection target of P400 million by an additional P116 million.

For his part, CEDA chief executive officer, Mr Thabo Thamane said ‘the fund is just one of the initiatives that the ministry will embark on’.

He called on the private sector to come on board and contribute to the fund so that it becomes a success. 

The project, he added, was of critical importance as it has the potential to change the economic landscape of the country.

“The project facilitation project fund is a collaboration between CEDA and LEA under the diligent oversight of MITI, where CEDA will provide funding while LEA will help through the provision of responsive business development services,” he said.

Mr Thamane said the fund would be used to finance activities such as environmental impact assessment, specialised licences, environmental management plans, soil and water tests, among others. ENDS