Govt seeds new Chema Chema with P200m

Monday, February 05, 2024 | 14500 Views |

Walking tall: Serame announced several new initiatives, including the Chema Chema revolving fund for the informal sector PIC: MORERI SEJAKGOMO

The Minister of Finance, Peggy Serame, has announced the creation of the Chema Chema initiative which she says will transform the informal sector and create more jobs.

Presenting the 2024-25 budget speech to the National Assembly earlier today, the minister said government would seed the revolving fund with P200 million.

"The Chema Chema Fund with an initial capital injection of P200million is aimed at fundamentally transforming the informal sector and providing the necessary financial support to entrepreneurs and small businesses," said Serame.

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