CEDA funds over 2100 businesses during the 2019/ 2020 season
Citizen Entrepreneurial Development Agency ( CEDA) has funded 2127 businesses to the tune of P451 million during the 2019/ 2020 financial year. This was disclosed by President Mokgweetsi Masisi during the State of the Nation Address ( SONA) this week.
“In addition, the Agency financed one thousand, four hundred and forty two ( 1, 442) businesses owned by women at a value of One Hundred and Thirty Four Million Pula ( P134 million) and five hundred and sixty eight ( 568) youth led businesses at Twenty Seven Million Pula ( P27 million),” said the President in a prepared speech. According to the President’s speech, the services sector was the most funded at 55 percent, followed by Agriculture at 28 percent, property at 10 percent and manufacturing at 7 percent. This translated in the creation of three thousand, eight hundred and eighty - three ( 3, 883) jobs during the period under review.
A few months ago, CEDA unveiled revised operational guidelines which are expected to make it easy for clients to get credit and also to pay back.
“The Revised CEDA Guidelines will play a facilitative role in the realization of broadbased citizen economic empowerment. These Guidelines offerconcessionary lending terms and longer repayment periods. Government has identified Agro- processing, Construction, Technology and Innovation, Energy, Manufacturing, Agriculture, Tourism and Mining, as well as the Creative Industry as priority sectors,” said Masisi. During the period, CEDA also launched the Letlhabile