CEDA disburses P25m under ERTP
Citizen Entrepreneurial Development Agency ( CEDA) has disbursed P24.7 million under the Economic Recovery Transformation Plan ( ERTP) to assist companies that were affected by Covid - 19.
The agency was allocated an amount of P300 million under the Economic Recovery Transformation Plan to assist companies that were affected by the pandemic last year. To date CEDA has approved 149 working capital loans valued at P24.7 million. Addressing the nation on Tuesday President Dr Mokgweetsi Masisi said government has introduced interventions to address the challenges which include the Economic Recovery Transformation Plan and the Informal Sector Recovery Plan. “COVID- 19 has also negatively affected businesses of all sizes. According to the Bank of Botswana Business Expectations Survey of March 2021, the most affected businesses are in Retail, Hotels, Restaurants, Transport and Communications, Finance and Business Services, Mining, as well and the Construction sector.” Last year, government introduced the Economic Recovery and Transformation Plan ( ERTP) to mitigate the effects of the pandemic. The ERTP, which was approved by Parliament as an addendum to the Mid- Term Review of NDP 11, resulted in Government appropriating additional resources through the Supplementary Estimates in the form of Industry Support Facility to the tune of P1.3 billion.
Under the Informal Sector Recovery Plan, which was administered by the Local Enterprise Authority ( LEA), to support the informal sector businesses, P38 million has been allocated to 38 232 informal sector businesses. The Authority was allocated P100 million to issue grants to informal businesses. To empower the private sector, President Masisi said government has adopted a Cluster Model approach to drive Value Chain Development which is currently being developed by various ministries. “One of the tenets of Mindset Change is to place economic empowerment of citizens at the epicentre of Botswana’s economic development. For that purpose, Cabinet has approved the Economic Inclusion Bill, the Public Procurement Bill, the National Employment Policy for Botswana and Botswana Intellectual Property Policy of 2021 for consideration during the current Sitting of Parliament.”