COVID-19 forced CEDA to foreclose P175m worth accounts
Monday, November 20, 2023 | 270 Views |
He told Members of Parliament that CEDA has foreclosed about 237 accounts valued at P175 million since the pandemic, with two from the hospitality sector valued at P25 million. As at March 31, 2020, before the onset of COVID-19, CEDA’s portfolio was made up of 5, 482 accounts valued at P2.4 billion.
To foreclose means to seize assets of a borrower in cases where the loan repayments are in serious arrears. Gare said of the measures put in place: “These include extension of repayment holidays for up to a maximum period of 12 months across sectors and reflects from March 2020 to April 2021. Rescheduling of 1, 458 loans on portfolios valued at P329 million across sectors.” Amongst others was the introduction of the Letlhabile micro loan product for the informal sector, which specifically focuses on uplifting the informal sector.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...