Refrain from financing speculative investments where the investor is not directly involved in management and operations.
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Background
The Government of Botswana is committed to citizen economic empowerment, evidenced by various programs and policies since independence to encourage citizens and citizen companies to participate in the mainstream economy. These initiatives, outlined in National Development Plans and other policy pronouncements, are solid citizen empowerment programs, even if not explicitly labeled as such. The Citizen Entrepreneurial Development Agency (CEDA) was established following recommendations from the National Conference on Citizen Economic Empowerment (NCCEE) in July 1999 and the 4th Evaluation of the Financial Assistance Policy (FAP) in May 2000, both of which highlighted the need for business development support to promote citizen entrepreneurship. Existing schemes like Young Farmers Product, CEDA Credit Guarantee Scheme (CCGS), Entrepreneur Mortgage Assistance, Venture Capital Fund (VCF), and CEDA loans operated in isolation with varied guidelines, making coordination challenging. These new guidelines consolidate citizen economic empowerment programs under CEDA as a "One Stop Service Centre" to address financial constraints affecting citizen businesses. The government aims to position CEDA as an empowerment entity with diverse financing products, fostering entrepreneurship by funding projects not typically supported by commercial banks.
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Primary objectives
The objectives of CEDA are designed to support sustainable citizen-owned businesses and economic growth.