The Citizen Entrepreneurial Development Agency (CEDA) has reduced interest rates on loans to 4.25 percent, from the initial 5 percent, President Mokgweetsi Masisi has said.

Masisi is a key speaker at a special event hosted by CEDA this evening at Tlokweng. Masisi was launching the revised CEDA guidelines.

He said CEDA has increased the duration of payment to 20 years from 15 years. Masisi said the decision was driven by the government’s quest to move Botswana to a high income economy. He said the plan is to ensure that there is a broad based citizen empowerment.