The Citizen Entrepreneurial Development Agency’s Mabogo Dinku product has been a resounding success ever since it was founded in October 2016.
This was revealed by CEDA Chief Operations Officer (COO) Andrew Madeswi at a Client Appreciation Forum that the Agency was hosting in Kanye on Tuesday.
“Since 2016, Mabogo Dinku has benefitted 768 groups comprising of 2832 individuals throughout the country. CEDA has disbursed a total of P26.1 million to Batswana through Mabogo Dinku,” Mabogo Dinku
As their businesses grew, Mabogo Dinku beneficiaries have employed an additional 532 assistants, bringing the total number of people who have directly benefitted from Mabogo Dinku to 3364. 80 percent of Mabogo Dinku beneficiaries are women while 35 percent (991) are youth.
Madeswi encouraged the youth to take up Mabogo Dinku as it has great potential to solve Botswana’s youth unemployment problem.
He added that Mabogo Dinku is not only about providing financing to micro-enterprises, but also empowering them to run their businesses through mentoring and business training.
CEDA is mandated with providing subsidized loans for various micro-entrepreneurs to enable citizen participation in enterprise development.
Its Mabogo-Dinku product is tailor-made for micro-enterprises that would otherwise not qualify for other CEDA products or access financing through local financial institutions.
Madeswi explained that Mabogo-Dinku provides micro-enterprises with funds for their various needs, among them, working capital and small asset finance.
The short-term loans range from P500 to a maximum of P150, 000 per person, payable in 3-12 months.