Sunday, May 29, 2022

CEDA reviews internal processes to enhance efficiency

The Citizen Entrepreneurial Development Agency (CEDA) is reviewing its internal processes to enhance efficiencies on the back of complaints from prospective and existing clients.

In an interview with The Telegraph on what the agency was doing to enhance its process, especially turnaround time on funding applications, the spokesperson, Masegonyana Madisa, said the loan appraisal report has been reviewed to make it shorter with the decision making panels, particularly the management investment committee meeting weekly.

The agency has also reviewed its delegation arrangement with a view to balance efficiency with best practices while the organizational structure is being reviewed to ensure efficiencies.

“From observation, complaints are not really on turnaround time but rather on communication between the promoters and their relationship managers with regard to where their applications are in terms of the process; however, the customer service department is working to address this issue,” said Madisa.

On the general response of Batswana to CEDA, Madisa said the agency has generally been well received by Batswana due to the fact that it has made a difference in their lives, adding that the agency has, since inception, financed over 4 000 projects, which have created over 30 000 jobs.

“The trickle effect of this is that these people’s families have also directly or indirectly benefited from this. As per our last public perception survey conducted countrywide, 62 percent of Batswana are positive about CEDA together with the role it plays in the society,” said the agency spokesperson.

As regards what the agency was doing on negative feedback, he said CEDA is putting together a strategy that will address stakeholder issues, noting that their critics claim not to understand the agency’s role and the value it provides against the resources that it needs.

He explained further that it was evident that Batswana have benefited in the sense that entrepreneurial spirit has been generated and new graduates are beginning to think hard on whether to go into business or seek formal employment, adding that Batswana who are without resources are turning to the agency to finance their dreams and aspirations.

“That has been our greatest triumph,” Madisa said elatedly.

While Madisa said they are satisfied with their performance since inception, he was quick to point out that they are continuously searching for newer and better ways of doing things to develop into a mainline of the country’s economic development and play a strategic role in all government programmes with a view to positively position citizen entrepreneurs into playing a leading role in the economy.

“This entails self-funding of the operations budget of day to day operations and being part to financing of the value chain from the recently established hubs,” said Madisa.

On where the agency would like to see itself in the next five years, he replied that CEDA legacy should be felt across the country, with citizen businesses cropping up even in the most remote areas.

In order to achieve its goals, the agency intends to segmentize its budget across business models prevalent in all areas (big or small), adding that it is their intention to come up with more product line items which are continuously aligned to the needs and aspirations of Batswana.

Since its inception 10 years ago, the agency has disbursed P2.3 billion and is gearing itself to commemorating its 10th anniversary this year.

RELATED STORIES

Read this week's paper