Peo to relax loan conditions as SMEs default

As the effects of recession take their toll on Botswana companies, 80 percent of Peo Venture Capital beneficiaries have experienced cash-flow problems and defaulted on their loan repayments, though they are still viable and profitable businesses.

Speaking in Phakalane near Gaborone on Tuesday, the Chairperson of Peo, Sheila Khama, said the global economic recession had led to shrinking markets for Peo beneficiaries, hence their working capital problems.

"Like most businesses, the Peo joint ventures have suffered from (a) weaker demand for goods and services as people are just not consuming as much as they used to," Khama said.

Editor's Comment
Seeking counselling is not sign of weakness

Unfortunately, in this part of the world, it is very rare for individuals to mind their mental health. This does not start today, and sadly, even children with certain mental health challenges get the stick regularly instead of proper diagnosis and professional assistance. Counselling, just like going for physical examinations, is very necessary for general well-being. Many Batswana are dealing with different challenges. These difficulties can...

Have a Story? Send Us a tip
arrow up