CEDA anticipates underperformance

source: BOPA
21 January, 2010

GABORONE – Citizen Entrepreneurial Development Agency (CEDA) anticipates a significant underperformance of its funded projects during the 2009/2010 financial year due to the global economic recession.

This could have a negative impact on the agencys collections, CEDA chief executive officer, Dr Thapelo Matsheka, revealed during a media briefing in Gaborone today.

The briefing was to announce CEDAs financial results for the year ending March 31, 2009.

The year under review (2008/2009) coincided with the onset of the global economic recession hence outlook for this year is that there will be a slow recovery and we expect that funded businesses will experience significant challenges as the economy recovers to pre-crisis levels, said Dr Matsheka.

He said during the 2008/2009 financial year the agency collected P113 million of the anticipated P139 million, which was an average of 81 per cent.

This was a significant improvement compared to [continue reading]

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