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
Closure as pain lingers

March 28 will go down as a day that Batswana will never forget because of the accident that occurred near Mmamatlakala in Limpopo, South Africa. The tragedy affected not only the grieving families but the nation at large. Batswana throughout the process stood behind the grieving families and the governments of Botswana and South Africa need much more than a pat on the back.Last Saturday was a day when family members said their last goodbyes to...

Have a Story? Send Us a tip
arrow up