15 Jun 2020

 Established with the purpose of uplifting the informal sector, Citizen Entrepreneurial Development Agency’s Letlhabile programme is reportedly progressing well.

The agency’s marketing and communications acting head, Mr Neo Tumelo explained in response to a BOPA questionnaire  that the programme was also meant to protect jobs of the self-employed informal sector so as to lessen government interventions on supporting livelihoods of Batswana who were self-reliant pre-COVID-19.

Now in its fourth week of existence, Mr Tumelo said the programme had clocked 18 770 enquiries with 549 approvals to the tune of P2.5 million.

Beneficiaries are anticipated to increase since more applications are being processed.

Mr Tumelo said intended beneficiaries were individuals without any formal employment  and who had been on an operational business prior to February 29.

Additionally, he said those who could demonstrate business activities through records, citing stock order receipts, supplies reference, invoices and bank statements were also legible for assistance.

Mr Tumelo noted that beneficiaries were given two forms of assistance, financial support and business advisory services.

“Financial support entails a loan, which starts at a minimum of P500 up to a maximum of P10 000. The loans shall be charged at five per cent interest per annum,” he said.

Mr Tumelo said the business advisory services covered aspects of record keeping training which was to be done through Local Entrepreneur Agency, business formalisation and other compliance related matters.

He further said repayments of working capital would range from three months to a maximum of 12 months while repayments for loans for assets would be paid in a period of three months to a maximum of 18 months.

Furthermore, Mr Tumelo mentioned that the program was established on a stimulus basis and would run for six months only ending mid-November this year though dates might change. BOPA