CEDA saves 100 jobs in F/town

FRANCISTOWN: The Citizen Entrepreneurial Development Agency (CEDA) has helped create over 100 new jobs and preserved 135 others in Francistown since April.

This is according to the figures dated from April this year to date, revealed by Francistown city mayor Godisang Radisigo on Wednesday.

“Since the beginning of the financial year, CEDA has funded 62 businesses at a total value of P10.5 million from applicants who operate businesses within the City of Francistown, thus maintaining 135 jobs and creating 116 more jobs,” Radisigo said.

In total since January 2021, businesses funded by CEDA in Francistown have created over 700 jobs.

Of the P10.5 million disbursed by CEDA, P295,000 went to the agri-business sector, covering areas such as poultry, horticulture and cattle breeding amongst others.

“Fifty-two businesses were funded under the services sector, which covered public transport while general dealers, the creative industry and tuck shops were funded to the value of P7 million.

“Funding for the manufacturing sector covered a total of seven businesses, which include bakery, brick moulding and textiles at a value of P3.2 million.”

Radisigo added that females dominated the beneficiaries funded since April.

“Thirty-nine females and 23 males have benefitted from the agency in this financial year with 14 of them being youths,” the mayor said.

Out of the 62 funded projects in Francistown, 21 businesses were under the Letlhabile programme at a value of P133,784.75 while 11 businesses were under the Mabogo Dinku programme at a value of P87,500. During the period under review, CEDA financed a total of 11 projects to the tune of P1.49 million under the Industry Support fund.

Letlhabile is a loan aimed at helping the informal sector to fight the effects of COVID-19, while Mabogo Dinku provides micro-enterprises with funds for their needs such as working capital and small assets finance.

The Industry Support Fund was introduced in November 2020 to focus on the stabilisation of small businesses in the form of working capital loans. The facility is currently capped at a maximum of 10% of annual turnover and aimed at businesses with a maximum turnover of P10 million.

Meanwhile, Radisigo said that the council is making progress in its bid to develop its Golf Course plot near Nyangabgwe Referral Hospital.

“The first phase has been completed,” the mayor said.

“This entailed cadastral survey covering sub-division of the plot into 13 lots, two link roads linking the lot to Donga and Area A as well as another providing access from Marang Road.”

He added: “The land servicing and development component will be carried out through the Financing and Development model of a 20–30-year lease, which will allow the developer to recoup the investment made in land servicing.

“The tender is anticipated to be advertised in November 2021.”

The mayor said that the costs of land servicing are estimated at P60

million.