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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
Boko should stop the fighting and start the delivering

With his theme of 'Delivering on Our Promise, One Step at a Time', he sought to project an image of a focused, determined leader building a new ‘Rome’. Sadly, parts of his speech were not about laying bricks, but about settling old scores.It is deeply worrying that a head of government would use such a pivotal national address to launch another bitter broadside against the media and his political detractors. His portrayal of the...

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