Serame announces Chema-Chema fund for informal sector

Statistics Botswana (SB)’s indication that the informal sector contributed 3.2 percent to economic growth in 2023 has triggered government to craft a phased capital injection for the informal sector.

The Finance Minister, Peggy Serame, announcing the proposed 2024/2025 budget, said government has realised great potential for the informal sector to play a more meaningful role in overall economic development and job creation.

“Therefore, we are creating a revolving fund, named ’Chema Chema Fund’, with an initial capital injection of P200 million, aimed at fundamentally transforming the informal sector and creating more employment opportunities,” said Serame.

In addition, Serame also said the government also intends to establish an Intellectual Property (IP) Motshelo Scheme and an Intellectual

Property Ideas Incubation Centre to support indigenous research and innovation.

“The Scheme together with the Centre, will empower Batswana to own and protect their Intellectual Property assets,” said Serame.

Meanwhile, the 2024/2025 proposed budget has recognised agriculture as one of the critical sectors of the economy. Serame said agriculture remains important to the economy due to its business and export potential.

“Therefore, to diversify the economy and create sustainable jobs, we must strive to make agriculture more productive and appealing to the youth,” said Serame highlighting that the proposed budget for agriculture has also been increased substantially. She added that the proposed budget will also promote equality for all and grant equal opportunities for women, men, girls, boys and vulnerable groups to fully participate in the economic and socio-political development of the country.