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Vice President Mompati Merafhe has assured the small to medium scale entrepreneurs that the launch of a new identity and pay-off line for Citizen Entrepreneurs Development Agency (CEDA) does not translate to a change in the mandate of the Agency.

“CEDA still remains a financial development arm of Government tasked with the responsibility of developing entrepreneurs through the provision of funding, training and mentoring,” said Merafhe at a glossy event to unveil the new logo and pay-off line.

He said owing to challenges faced by the parastatal in the past 10 years of existence; it was imminent to rebrand the Agency. CEDA joins a bandwagon of parastatal and government to unveil new logo and pay off-line.

“CEDA has been grappling with a number of other challenges such as lack of commitment to the business and poor business skills on the part of business owners,” he said adding that the challenges including the negative perception of CEDA by members of the public,

“A need therefore, arose to develop a strong brand around the Agency.”

He said CEDA is an integral part of the economic diversification drive as a provider of funding and business advisory services to local businesses.

Merafhe acknowledged that CEDA has funded start-up businesses and expansions to the value of P2 billion in various sectors of the economy, creating an estimated 28 000 jobs for Batswana.

The Vice president highlighted that apart from CEDA initiative government is doing more to prop up the economy.

“Government is on a correct path by identifying economic diversification and local procurement preference as some of the instruments that could be used to grow the economy and employment,” said Merafhe.

Meanwhile minister of Trade and Industry Dorcas Makgato-Malesu said movement of Citizen Entrepreneur Development Agency (CEDA) from Ministry of Finance and Development Planning to her ministry is a rational development for economic activities.

“I believe it makes business sense for CEDA to be relocated in my Ministry, together with the Local Enterprise Authority (LEA), and BEDIA as their functions will be better coordinated under one roof,” said Makgato-Malesu.

The Minister said the rationalisation is part of government efforts to continue to review policies and programmes in order to achieve greater economic growth and increased job creation.

“We are quite happy to have CEDA under the Ministry of Trade,” added Makgato-Malesu.