Botswana: The Government of Botswana has recently launched the Chema Chema fund for the benefit of the informal sector of the country. The event was hosted at the Mummy’s Complex Open Space in Maun on April 5.
The officials have shared the glimpses of the event on their social media. The event was spearheaded by the Vice President of Botswana, Slumber Tsogwane and started at 11:00 Hours.
During the event, Vice President of the country stated that the government of the country is dedicated to bringing the benefit of financial support to the people.
He talked about the significance of the informal sector for the GDP of the country. The informal sector contributes approximately 3.2% to the nation’s GDP. The officials further noted that the statistics clearly indicate that the sector contributes heavily to the Botswanan economy.
The officials have shared that the sector employs 200 000 people, out of which 70% are women workers. Vice President Slumber Tsogwane has accordingly called on the financial stakeholders to support the sector.
The people of the country have appreciated the government for taking the initiative to empower the people of the country. The initiative will help in developing the economy of the country and encouraging the workers of the informal sector get access to equal financial opportunities
The Chema Chema Fund is supported by the Minsitry of Entrepreneurship and The Ministry of Finance. Other partners include Citizen Entrepreneurial Development Agency (CEDA) and Local Enterprise authority.
The launch of the Chema Chema Fund will help the employees in the informal sector benefit from government backed financial initiative. They can access loans for buying assets and educate their children among other things.
The event also featured remarkable music from local artists who were employed to entertain the attendants of the launch event. The Chief Executive Officer of Citizen Entrepreneurial Development Agency (CEDA) Thabo Thamane spoke of the Chema Chema fund during the event.
He said that Chema Chema Fund application can be done physically at CEDA offices or online by dialing *133#. He said the forms are short and simple to enable those who wish to apply to do so with ease.