26 Jan 2022

Citizen Entrepreneurial Development Agency (CEDA) has approved a total of 8 182 applications valued at over P1 billion since the launch of the new guidelines in 2020.     The acting Minister of Investment Trade and Industry, Mr Molebatsi Molebatsi said this in response to a question from Kgosi David Toto of Kgalagadi South Region during the 8th meeting of the 4th Ntlo ya Dikgosi session.

Mr Molebatsi said there had been improvements in the businesses and livelihoods of Batswana since the review of CEDA Regulations in terms of services rendered towards financing their businesses.

He explained that those applications entailed 2 551 Agribusiness valued at P225m, 415 manufacturing value at P287m, 34 property sector at P92m while services applications received were 5 182 valued at P469m. 

Mr Molebatsi said it was early to measure the impact of approved business on the livelihoods of Batswana, as majority of the applications were still under implementation. However, he said that 3 940 jobs were maintained and 4 478 direct employment was created.

He said the approved applications under the manufacturing sector were expected to contribute immensely towards import substitution, adding that 245 employment opportunities had already been generated under the sector.He further said COVID-19 had affected the business, as the economy slowed down, and costs of operations escalated, hence efforts by the CEDA to intervene through rehabilitative efforts such as re-capitalization of loans as well as provision of repayment holidays for the hard hit sectors.

Kgosi Toto had asked the Minister of Investment Trade and Industry to explain if there had been any improvement in the business and livelihoods of Batswana since the review of the CEDA Regulations in terms of advice rendered towards financing their businesses. ENDS