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.
She said the initiative is expected to boost economic growth and create more job opportunities for Batswana.
Serame emphasised the importance of harnessing the potential of the informal sector for overall economic development.
"The informal sector has the potential to play a meaningful role in economic development and job creation,” she said. “It is essential that we focus on empowering and supporting this sector to realise its full potential."
In addition to the creation of the revolving fund, Serame also announced plans to establish an Intellectual Property (IP) motshelo scheme and an Intellectual Property ideas incubation centre.
"The purpose of these initiatives is to support indigenous research and innovation and empower Batswana to own and protect their intellectual property assets," she explained.
Serame added: "The IP motshelo scheme, together with the incubation centre, will play a crucial role in encouraging creativity and innovation among our people. “It will provide them with the necessary tools and resources to protect and commercialise their intellectual property."