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Businesses use P250m of COVID-19 credit scheme

On the mend: Tourism enterprises were amongst the leading beneficiaries of the loan guarantee scheme PIC: THALEFANG CHARLES
On the mend: Tourism enterprises were amongst the leading beneficiaries of the loan guarantee scheme PIC: THALEFANG CHARLES

Botswana Export Credit Insurance (BECI) has underwritten just P250 million in loans under the P1 billion credit guarantee scheme launched two years ago, as the government-backed arrangement comes to an end this month.

The scheme was launched as part of a range of government’s COVID-19 interventions aimed at helping businesses out of the pandemic.

The scheme aimed to encourage bank lending to qualifying businesses by offering a partial government guarantee of 80% to commercial banks and banks established by legislation. The banks would cover the remainder of 20% of the risk of the financial facility.

Editor's Comment
Violence doesn't solve anything!

Our weekly edition carries painful articles of people being murdered. Whilst some are classified as Gender Based Violence (GBV), there are still a large percentage of murder cases, which often happen at drinking spots, after people are heavily intoxicated. We have in the past carried articles where an individual was murdered because they refused to give someone a cigarette, and sadly this is where we are at now!In this very edition, there is an...

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