Objectives

The objectives of CEDA are as follows:   

2.1      The provision of funding for the development of competitive and sustainable citizen owned businesses and joint ventures operating both within and expanding outside the country.   

2.2      Proactively initiate and coordinate the provision of funding packages from sources other than government such as DFI, international agencies, institutional funds, venture capital funds, and the commercial banking sector.   

2.3      The assisted businesses, enterprises and citizens must contribute towards the objectives of economic diversification, employment creation, citizen economic empowerment, and poverty alleviation through development of sustainable citizen enterprises.   

2.4      Foster citizen entrepreneurship and empowerment through encouragement of local entrepreneurial culture through funding.   

2.5      Promoting the development of vertical integration and horizontal linkages between citizen enterprises and primary industries through effectively pursuing the business opportunities associated with the exploration and exploitation of natural resources.   

2.6      Promote the consolidation of citizen firms, amalgamations and joint ventures as a means of growing the size of citizen business enterprises to enable them to compete more effectively with larger foreign owned companies.   

2.7      Where appropriate, finance the establishment of Citizen Businesses in foreign markets to enhance their international competitiveness;   

2.8      Support entrepreneurship development by exposing citizen entrepreneurs to a whole range of possible business financing packages including opportunities in the money markets and institutional investors;   

2.9      Promote citizen economic empowerment through assisting to finance the acquisition of foreign owned businesses, or shares. In such businesses the entrepreneur (s) should be an active part in the management and operations of such businesses in an entrepreneurial role and not as a non-participating investor.   

2.10   Improving access to international markets through cooperation including joint-ventures with foreign investors and investment in those markets through equity and credit guarantee schemes.   

2.11   Foster youth enterprises in business through effective pursuit of opportunities in all sectors of the economy.   

2.12   To provide mentoring, technical assistance and other appropriate support to CEDA funded enterprises.   

2.13   To retain citizen investment in commercial/industrial property sectors and land.   

2.14   To address the problem of access to finance by the SMMEs due to their inability to meet security requirements of commercial banks and other financial institutions through credit guarantee.