Borrowing from CEDA has been made easier, affordable and less cumbersome, according to the agency’s revised guidelines launched this Thursday at Obert Fitness Center in Tlokweng.
Repayment periods have been extended and interest rates reduced such that any Motswana can now dream of being an entrepreneur. The full guidelines are here: Download – CEDA NEW GUIDELINES – JULY 2020
Obert Morgan from Mathangwane is the founder of renowned Orbert Fitness Centre which is a beneficiary of CEDA and on Thursday evening he advised Batswana to emulate him by trusting the lending agency.
He said: “Batswana ba dumela gore CEDA e dingalo, ga e reetse. We should do away with such perceptions and trust this organ. Work on your business plan and start with your savings, and bear in mind that in financing, there is a need to comply.”
CEDA asked him to host the event of launching the revised CEDA guidelines at his business premises in Tlokweng, funded by CEDA.
He revealed that Orbert Fitness Centre provides corporate fitness services to numerous businesses around the country but has ventured into Commetcial fitness services.
Speaking at the event, President Dr. Mokgweetsi Masisi said the launch of the Revised CEDA Guidelines is testimony to Government’s efforts to develop a sustainable and inclusive economy as espoused in the National Vision 2036.
He added that the Covid-19 pandemic has brought to the fore the need for Botswana to move with speed and agility to ensure the growth and diversification of the national economy, led by the private sector.
“Govt is aware that the attainment of these aspirations can only be achieved through active participation of the private sector to ensure that our national development agenda is implemented in an inclusive and competitive manner,” he said.
He reiterated the government’s commitment to empowering Batswana and spurring their participation in the economy. Government will empower young people to play a leading role in sectors such as manufacturing, agriculture, the creative industry, tourism, technology and innovation by providing them with access to funding and a conducive environment in which to do business. In that regard, said President Masisi, the government has revised the CEDA Guidelines with a view to supporting and entrenching broad based citizen economic empowerment in Botswana.
“The revision addressed such issues as loan limits, interest rates, equity requirements, training and mentoring, repayment periods as well as inclusivity, which talks to access to finance by women, youth and people with disabilities,” said President Masisi.