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CEDA Pumps out P3.7 billion in loans

CEDA Pumps out P3.7 billion in loans
CEDA CEO: Thamane

Since inception in 2001, the Citizen Entrepreneurial Development Agency (CEDA) has pumped out P3.7 billion to 6129 citizen owned projects, in line with its mandate of providing financial and technical support for business development as a way of promoting viable and sustainable enterprises

CEDA Chief Executive Officer (CEO) Thabo Thamane said in an interview that the P3.7 billion is inclusive of P297 million spent on manufacturing projects; P1.2 billion on agribusiness, P600 million on property and P1.6 billion on services.

CEDA has funded a total 6129 projects in sub-sectors like retail (1912), transport (205), property development (205), manufacturing (372), plant production (524), hotels & accommodation (132), construction (118) and animal production (906).

“As part our efforts to bolster women empowerment, we have also made great strides in financing women owned businesses over the years,” said Thamane.

Of the 6129 projects that CEDA has financed since inception, 2771 were female owned while 16 had female shareholders.

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412 out of the 1465 CEDA funded agribusiness projects were female owned, accounting for 15 percent of the total P1.1 billion that was disbursed.

Female owned enterprises took up 53 percent of the total number of projects that CEDA has funded in the services sector, with investments totalling P408 million.

Women also accounted for 48 percent of all the manufacturing projects that CEDA has funded over the years, with funding running up to P86 million.

In property, CEDA funded 82 women owned projects to a total P127 million.

Thamane reiterated that the Agency will continue setting the standard in financing female owned businesses as it recognizes gender equality as a fundamental human right and a necessary foundation for a peaceful, prosperous and sustainable Botswana.

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