30 Aug 2020

Citizen Entrepreneurial Development Agency (CEDA) chief executive officer has warned against submission of unauthentic documents in effort to acquire loans from the agency.

Mr Thabo Thamane was addressing Maun Administrative Authority (MAA) councillors recently.

Mr Thamane told the councillors that since the launch of the revised guidelines, CEDA had been receiving many applications, some of which were illegitimate.

“Let us be warned. Those who continue to try to acquire loans with illicit documents will face the law,” he warned.

Councillors also heard that under the revised CEDA guidelines, successful applications for micro or small scale businesses would be allowed a maximum of P1 million loan repayable in a period of seven years.

Successful applications for medium businesses would get loans ranging from P1 million to P5 million for a period of 15 years while large businesses qualified for loans between P10 million and P50 million repayable in 20 years.

He further informed councillors that revised guidelines, which aimed to promote entrepreneurship over the formal sector, had introduced special sectors to cater for manufacturing, mining, construction, agriculture, creative industry as well as tourism.

On the other hand, he said through the Maun branch, about 143 people had so far benefited from Letlhabile initiative loan subsidy while about P3 million had been set aside for Mabogo Dinku initiative.

Meanwhile, MAA councillors embraced the revised CEDA guidelines as a welcome development.

Councillor for Sedie ward, Mr Kaukapita Kaukapita applauded the revised guidelines and new interest rates.

Nonetheless, Mr Kaukapita said dairy and poultry farming should be promoted since the country still depended on imports for such.

Bojanala ward councillor, Mr Luke Motlaleselelo also appreciated the revised guidelines and pledged to support CEDA in its agenda to transform the business landscape.

Councillor Ntlogelang Kebonyekgotla for Boyei Wrad said lack of land and high electricity tariffs continued to hinder CEDA efforts aimed at facilitating businesses, something he argued must also be looked into in order for Batswana to benefit from the agency’s initiatives. Ends