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Vice President launches Chema Chema Fund

04 Apr 2024

Vice President, Mr Slumber Tsogwane, will today launch the Chema Chema Fund at the Mummy’s Complex open space in Maun. Members of the public and the media in Maun and the surrounding areas are invited to attend the envisaged event. 

A press release from the Ministry of Entrepreneurship has indicated that the launch of the Chema Chema Fund, otherwise dubbed by some as ‘Mokgokolosa’ is a ground-breaking product offering, designed to elevate the informal sector. 

The release says through its revolving nature, the Chema Chema Fund represents a significant milestone in a transformative effort to support and enhance the informal sector, which has been a vital component of Botswana’s economy. 

“The initiative recognises and seeks to harness the potential of informal sector entrepreneurs by providing them with the necessary tools, resources, and support to grow their businesses and, by extension, contribute more significantly to the national economy,” says the media release. 

The press release further says the informal sector in Botswana is a dynamic and pivotal part of socio-economic landscape, offering employment opportunities, enhancing livelihoods, and contributing to the resilience of the economy. 

“It is a sector characterised by its flexibility, creativity, and entrepreneurial spirit, qualities that Chema Chema aims to bolster and bring to the forefront of national development,” says the release. 

Chema Chema Fund is administered by the Ministry of Entrepreneurship and implemented by the Citizen Entrepreneurial Development Agency (CEDA) and the Local Enterprise Authority (LEA). 

Additionally, Chema Chema offers mentorship and resources to help informal sector entrepreneurs thrive. In collaboration with the Ministry of Finance, the enabling fund-order and guidelines have been completed and would be shared. Ends

Source : BOPA

Author : BOPA

Location : Gaborone

Event : Press Release

Date : 04 Apr 2024