CEDA’s Mabogo Dinku splashes P2,4m on 243 Batswana
Citizen Entrepreneurial Development Agency (CEDA) has funded 243 individuals at the value of P2.4 million to date through its new Mabogo-Dinku product since September last year.
Launching the mobile offices on Thursday, CEDA chief Executive, Thabo Thamane said they are going to market the product in remote areas through the two new mobile offices in Mmathete. “It is our intention as CEDA to use these mobile offices to market our latest product offering, Mabogo-Dinku,” said Thamane.
Mabogo–Dinku offers loans to individuals who belong to self-help groups that support them in saving and loan repayment accountability and through surety at application stage.
The loans range from P500 to P150 000 per person and are payable in a period of three to 12 months with repayment frequency ranging from weekly to monthly.The agency has reserved P20 million for the product during 2017/18 financial year.
Thamane said through the mobile offices, CEDA will be able to cover the remote areas in the North and South regions of the country. He said the mobile offices will offer all services offered from a CEDA branch. “Officers manning the mobile office will be able to receive business proposals from potential customers in those regions and offer other complementary services,” he said.
The agency has increased its number of branches to 10 across the country. Thamane explained that although the number of branches is increasing, the agency is still faced with the challenge of serving people from other parts of the country where it does not have branches. The challenge was compounded by the fact that government has reduced its subvention to CEDA.
“This move by the government meant that CEDA had to be more innovative and come up with means and ways that would enable it to continue in the fulfilment of its mandate without compromising on the quality of service,” said Thamane.Minister of Investment, Trade and Industry, Vincent Seretse said government is committed to bringing services nearer to its citizens.
“My ministry together with other stakeholders are working towards addressing constraints which are external to enterprises and therefore affect the business environment. It is envisaged that the dual efforts of CEDA and the ministry will lead to more competitive and efficient enterprises,” said Seretse