09 Aug 2020

Citizen Entrepreneurial Development Agency (CEDA) has financed 1 943 agricultural businesses valued at P1.2 billion across the country since 2010.

Assistant Minister of Investment, Trade and Industry, Mr Karabo Gare, told Parliament that CEDA had funded 67 businesses in the agricultural sector in the Mmadinare constituency valued at over P3.3 million.

He said there had been low uptake of CEDA agricultural products in the constituency due to frequent outbreaks of the foot and mouth disease in Zone 7 area since 2008.

However, Mr Gare said after introduction of the Letlhabile product, which was focused on assisting micro entrepreneurs there was an increase in the number of applications from the constituency.

He said a total of 57 projects had been approved at a value of P275 400. He added that the new CEDA guidelines were anticipated to facilitate more investment from the sector.

He explained that the agency measured the success of its portfolio by survival rate, which showed the number of businesses that continued to be in operation after three years.

He said the survival rate for the agricultural sector was 60 per cent.

He was responding to a question from Mmadinare MP, Mr Molebatsi Molebatsi who asked the minister to state the amount CEDA had contributed towards agricultural projects in Botswana since 2010.

He also asked the minister how many of the projects were in Mmadinare constituency and the success rate of the investment countrywide. ENDS