MABOGO-DINKU MEDIA LAUNCH COO SPEECH

Good Afternoon,

1. It is during this trying Economic conditions that institutions like CEDA think deeply and ensure that they make available solutions that will bring about the required social and economic upliftment of the society, especially at the bottom of the pyramid.

2. And we need to do so, with the understanding and commitment that; we should more than ever, improve the gap between the lowest and the highest income earners, because, it is those at the bottom who are most vulnerable to suffer the most, when times are tough.

3. I wish to further affirm that, CEDA remains providing its current offerings of which currently we finance up to the maximum of P30m.

4. However, for the reasons already advanced earlier by the CEO, Mabogo-Dinku has been crafted to best serve micro enterprises and I wish to detail these unique features as follows;

5. GROUP METHODOLOGY

• To benefit, you should belong to a group of minimum 5 and maximum 15 individuals

• For ease of managing the affairs of the group, CEDA has developed a standard constitution for the members to adopt as the governing framework

• Loan processing forms shall be completed by the member in need of the loan and presented to the group for consideration and endorsement before submission to CEDA.

• It is through this process that members of the group co-guarantee the member applying for the loan and this is one of the strength of working together, hence adage of Mabogo-Dinku a a thebana

6. GROUP ORIENTATION AND TRAINING

The Agency has developed an orientation and training tool that assists to strengthen the group in engaging on their affairs and further develop members to better manage their individual enterprises.

This is the foundation that solidifies the group and educate the members about;

• Group dynamics / formation
• Leadership, roles of leaders and members in group functions
• Terms, conditions and procedures of Mabogo-Dinku
• Record Keeping
• Formation of a functional group constitution
• Loan Management
• Business Management
• Financial Literacy

This comprehensive orientation takes between 3 to 6 weeks before any lending activities could be undertaken.

7. GROUP SAVINGS

Mabogo-Dinku promotes and encourages a savings culture, including providing or facilitating savings avenues for the clients as a basic source of for enterprise support and sustainable growth.

1. Members contribute savings towards a group savings account.
2. The savings shall be at least 10% of the total loan amount at any point in time.
3. The funds shall be in the custody of a bank agreed upon by CEDA and the Group.
4. In case of difficulties to settle the loan, cash contribution will act as a remedy to settle the facility.
5. The Savings account interest and maintenance shall be as agreed upon by Group and the chosen Bank.

The Agency has entered into an Agreement with Barclays Bank of Botswana and Botswana Savings Bank to facilitate the savings component through their suitable savings products. 

8. LOAN PURPOSE

     Mabogo-dinku undertakes to provide funding for securing Assets or to provide Working Capital

9. LOAN AMOUNT LIMIT

Group Loan limit is linked to the amount of savings and as such a group qualifies for 10 times their contribution amount

The group can increase the amount of loan they qualify for with an increase to the savings but with limitations of financing up to P150,000.00 per individual in addition to the savings determining factor.

10. As I move towards the end, I wish to cement that, we are convinced that Mabogo-Dinku will bring about vibrancy and energise micro entrepreneurs, and whilst we still apply the required lending principles, completing a 5 Paged form will be enough to apply for a loan.

11. Also as shared, our Micro Finance Officers across all our Service areas are ready to serve and should our clients wish to enquire before physically reaching our offices, we can be contacted on our telephone lines and we are also available on Facebook and we will as prompt as possible guide you appropriately.

Ladies and Gentlemen,

Good Afternoon & Thank you