CEDA CUSTOMER LOANS AND COMMITMENTS - Misleading social media testimonies

CEDA CUSTOMER LOANS AND COMMITMENTS:

​"Misleading social media testimonies"

1.     It has come to the attention of the Citizen Entrepreneurial Development Agency (CEDA) that some of its customers have been making illegitimate and false statements on Social Media platforms stating that  their loans and arrears have been cleared through the power of prayer.

2.     CEDA categorically denies any truth to this matter. The posts have no truth, and have proven to be misleading to the public.  CEDA wishes to inform its valuable customers and the general public that this is not by any means the manner in which the Agency conducts business with its customers. The Agency has entered into written and long-standing agreements with all of its customers. Within those agreements, there are terms and conditions that stipulate how loans are serviced and remedial action to those that may default in their servicing of their obligations.

3.     Whilst CEDA continuously aims to help all of its customers at every stage of their business, customers have a responsibility to their business, and obligation to servicing their debts until they are paid off.  CEDA utilises public funds to deliver on Government mandate of growing entrepreneurs, and therefore carries immense responsibility in ensuring those funds continue to be accounted for.

4.     Our customers and the public must be cognisant of the fact that (CEDA) was established by the Government of the Republic of Botswana to provide financial and technical support for business development with a view to promoting viable and sustainable citizen owned business enterprises.

5.     CEDA is a revolving fund and relies on its customers to ensure that they service their loans and fulfilling the agreements that they have entered into with the Agency. The fund can only grow and in turn assist others on provision that its customers play their part.

6.     It is very important that Customers, both current and potential, and indeed the General Public who are stakeholders in the success of CEDA understand that there is no process that exists to write off loans.  All loans are expected to be paid off in full, either through income generated from the projects, or liquidating security that is provided at the beginning of the project.

7.     At CEDA, we appreciate that going into business is in great respects a leap of faith, but coupled with that are hard and serious decisions and consequences that business people have to live and work by. In that respect, we provide our valued customers with many platforms to ensure that their businesses succeed

8.     The Agency respects customers religious beliefs, and have great respect to their right to worship but the Agency does not make decisions based on religious or any other affiliation.

9.     Should our customers or the general public have any queries or seek further clarity regarding how we assist and aid businesses  kindly contact:

The Client Relations Department

Tel: +267 3170895

Fax: +267 3170896

Email: feedback@ceda.co.bw