CEDA loan book grows by P190 million

The Citizen Entrepreneurial Development Agency (CEDA) expanded its loan book to Batswana by P190 million last year, giving assistance to 292 projects spread over five major sectors of business.

The increased investment in projects left the CEDA loan book standing at P546.4 million at the end of the 2008/09 financial year.

Of the total, applications towards the services sector accounted for 44 percent of the approved projects, while agriculture accounted for 30 percent, retail 14 percent, manufacturing nine percent and property three percent. These applications were towards the CEDA development fund, which has traditionally been the Agency's vanguard product through which it pursues its entrepreneurial development and employment creation mandate. According to CEDA officials, the P190 million lent out last year was a significant increase on the P119 million disbursed in 2007/08. CEDA Chief Executive Officer, Thapelo Matsheka however expressed concern with the proportions different sectors are accounting for in the development fund. "The applications are highest from those targeting the service sector. This is because the entry criteria for this sector are very easy.

Editor's Comment
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