New CEDA chief vows to stamp out arrears

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CEDA's new chief executive officer has promised tough action against defaulting borrowers, as statistics emerge indicating that one out of every five loans the Agency has issued since inception has fallen into arrears.

Briefing journalists yesterday, Thabo Thamane said of the P1.012 billion loaned out since inception in 2001, 22 percent was in arrears by December 2010 against a target of 20 percent. Collections for 2010 were also slightly below target at 77 percent instead of 80 percent.

CEDA data shows that highest concentrations of defaults were in Gaborone, Francistown, Palapye and Kanye.

Editor's Comment
Women unite for progress

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