Africa-Press – Botswana. The total loan book value for the Government Employees Motor Vehicle and Residential Property Advance Scheme (GEMVAS) is P2 298 295 553, Minister of Finance has told Parliament.
Answering a question from Gaborone Central MP, Mr Tumisang Mangwegape-Healy on November 21, Ms Peggy Serame said data from the GEMVAS system indicated that between June 2010 and November this year 8 871 officers were assisted of which 2 266 received motor vehicle loans while 6 605 received residential property loans. Ms Serame said residential property loans amounted to P2 190 352 126 and motor vehicle loans at P107 943 426.
She said GEMVAS currently catered for motor vehicles and residential property loans only but there were State Owned Enterprises such as the National Development Bank (NDB), which among others financed agricultural and farming implements.
Recently, the NDB started administering the newly introduced Temo Letlotlo programme, which allows Batswana aged 18 years and above to apply for the programme, Ms Serame said that an individual should either be a farm owner or a tenant in a farm and thereafter, they are required to register in the Temo Crop Management System.
Ms Serame said public officers were eligible for the programme as it was open to all Batswana. She said given that GEMVAS, established 1973, was a condition of service, the Finance Ministry would engage with the Directorate of Public Service Management for further review of the scheme, which might include financing of agricultural and farming implements.
Mr Mangwegape-Healy wanted the minister to apprise Parliament on GEMVAS and state the total loan book value and the number of those assisted since inception; how much belonged to residential/property loans and vehicle loans from the total loan book.
He also wanted the minister to state if the ministry would consider expanding the scheme to include financing of agricultural and farming machineries such as tractors and harvesters among others, which could later generate income for civil servants after retirement.
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