25 Apr 2024

Member of Parliament for Takatokwane, Mr Tshoganetso Leuwe has described Chema Chema Fund as an initiative  meant  to foster financial inclusion and growth within the informal sector.

Speaking during during a recent kgotla meeting at Maboane, Mr Leuwe said  the interest  on Chema Chema loans was kept affordable, operating on a simple interest basis  and  charged only once.

These loans, he said carried an interest rate matching the current Monetary Policy Rate (MPR) at 2.4 per cent, providing a significant chance for the informal sector, often struggling to secure funding, to thrive. He said  Chema Chema could breathe new life into the informal sector by helping transform it into sustainable enterprises. Additionally, the

MP said beneficiaries not only had access to funds but also receive training in business management and growth strategies, enhancing their chances of success. Both new and existing informal businesses, he said were  eligible to benefit from this initiative.

Furthermore, Mr Leuwe highlighted the inclusive nature of the Chema Chema Fund by mentioning that even defaulters of youth grants and Small, Medium, and Micro Enterprises have the opportunity to benefit. He stressed the importance of timely repayment, as the revolving nature of the fund allows for future beneficiaries to benefit.

Addressing concerns about defaulters facing legal repercussions, he reassured that such narratives were misleading, aiming to deter potential beneficiaries while those spreading them benefit from the programme.

In addition to promoting the Chema Chema Fund, Mr Leuwe encouraged the community to capitalise on free electricity connection offered and shared plans for Botswana Power Corporation to expand infrastructure to serve more households.

He  urged community members to embrace initiatives like Temo Letlotlo and Thuo Letlotlo for their collective progress and prosperity.

Responding to the concern over delayed land allocation in Maboane, which the residents said denied them to benefit from government programmes like free electrification,  Takatokwane Sub Land Board secretary, Ms Oduetse Mosimane conceded that there was a delay, noting that the last allocation in Maboane was in 2014.

Ms Mosimane said the council has recently approved land layout an surveying was underway and added they were expecting 281 residential plots against the 773 waiting list.

Regarding land for ploughing purposes, she said the land designated for allocating ploughing fields was no longer available. For his part, Letlhakeng Deputy Council Secretary,

Mr Terrence Ntalabgwe said plans were under way to construct one block with two classrooms to address shortage of classes in Maboane Primary School. ENDS