27 Nov 2019

 Citizen Entrepreneurship Development Agency (CEDA) has funded 6 918 businesses valued at P3.9billion in the last 10 years, says the Assistant Minister of Investment, Trade and Industry, Mr Karabo Gare.

Mr Gare was responding to a question in Parliament from Member of Parliament for Selebi Phikwe West, Mr Dithapelo Keorapetse.

Mr Gare said out of the indicated number, 276 were secured through mortgage bonds while 6 642 were secured through personal guarantees and deed of hypothecation of CEDA financed assets.

He further elaborated that of the 6 918 businesses, 5 780 were operational while 1 138 had collapsed.

Furthermore, he said CEDA was mandated to assist businesses owned by citizens as long as they met requirements.

Mr Gare said CEDA collaborated with institutions such as LEA, BAMB, BITRI, Botswana Innovation Hub and commercial banks to promote business linkages and empower businesses.

Minister Gare said CEDA had a restructuring unit, which was responsible for reviewing businesses that were struggling in order to restructure their loans to allow them to turn around.

He also said the agency had a business advisory unit whose responsibility was to handhold businesses during their lifetime; with interventions like pre-appraisal mentoring during loan assessment and need-based mentoring for ailing businesses.

Mr Keorapetse had asked the minister to state the number of businesses funded by CEDA in the last ten years and the amount used.

He also asked the minister to indicate the number of operational businesses and those that collapsed as well as intervention in place to promote businesses from collapsing. ENDS