Barclays Boosts Mabogo Dinku Initiative

Mabogo Dinku, introduced two years ago, is a loan product with a ceiling of P20 million intended for micro-businesses that are not able to access the main CEDA development fund. The product allows micro-entrepreneurs to apply for loans up to P150,000 payable in three to 12 months to fund working capital and asset purchases.

When presenting the bank’s financial results for the year ended December 31, 2017 recently, managing director (MD) Reinette van der Merwe said that this had been possible through the bank’s partnership with CEDA. “Our partnership with CEDA and the Mabogo Dinku programme has enabled over 300 individuals to access loans for their businesses,” she said.