CEDA Invests P332M In Spedu Projects

Citizen Entrepreneurial Development Agency (CEDA) has invested a total of P332m in the SPEDU region.

Addressing councilors during the ongoing Selebi Phikwe Town Council (SPTC) full council meeting on Tuesday, the Mayor of Selebi Phikwe, Mr Lucas Modimana said the funds were used to finance over 2882 projects with a total employment of 5 702 in the entire greater SPEDU region.

He said CEDA continued to make remarkable progress in providing financial and technical support for business development with a view to promote viable and sustainable citizen owned enterprises.

Mr Modimana said for the financial year 2021/2022 to date, the agency had funded 334 projects in Selebi Phikwe with a total value of over P90m which included both the main line projects and the informal sector.

He further explained that through Mabogo-Dinku, which was CEDA’s microfinance product that offered subsidised loans to enable citizens’ participation in enterprise development, the agency had funded 46 projects with a value of P486 000 in the financial year 2021/2022 whilst the Letlhabile product funded an additional 349 projects with an amount of over P1.6m in the same period.