Africa-Press – Botswana. Chema Chema Fund is set up to provide funding for the informal sector businesses, Minister of Entrepreneurship, Mr Karabo Gare, told multitudes of Mogoditshane residents who thronged the kgotla to get first-hand information on the fund requirements.
Mr Gare said Mogoditshane was a well-known business hub housing diverse businesses, and the fund would come handy for the residents. He encouraged business owners and those who want to start small businesses to take advantage of the fund and boost their businesses, and improve their lives at the same time.
He said Chema Chema Fund was envisaged to help Batswana businesses for the next 5 years with possible increment in monetary terms. He said the use of the fund rested on Batswana who qualified for the funding and urged them to use money applied for to improve their business, grow and develop to become multi-national companies.
MP for Mogoditshane, Mr Tumiso Rakgare, urged residents to use the fund to grow their businesses and improve their lives.
He said positivity was integral in decision-making for their businesses to grow and urged them to be serious and committed to what they were doing.
The Chief Executive Officer of the Citizen Entrepreneurial and Development Agency (CEDA), Mr Thabo Thamane, said the lending agency was tasked with the administrative duties of funding Chema Chema. He said majority of the work in preparation for funding was being done by Local Enterprise Authority (LEA). He assured Batswana that they should not be afraid to take advantage of the programme as it comes handy for their businesses. He said requesting for information on the Fund was integral for their success as it eases any fears of applying for funding. He reminded that the fund offered loans at a low interest of 2.4 per cent charged once-off and adding the loans were insured.
Mr Thamane said repayment of the loan remained the responsibility of the borrower and expectation was that they pay back so that others could be assisted as well. He told residents that CEDA would open an office in Mogoditshane before the end of winter season as they have identified office space for their operations.
LEA CEO, Mr Godfrey Molefe, said they have been mandated with registration and training of Chema Chema beneficiaries and their offices across the country had been flooded with small business owners who wanted to benefit from the fund. He assured Batswana that they should not be worried about being closed out as they have no closing date for the fund.
To reduce crowding at their offices, he said, they would provide Chema Chema registration services in a tent at the Mogoditshane kgotla.
He said another tent would be placed at either GSS or Notwane grounds for registration. Mr Molefe said to be funded by Chema Chema one must be over 18 years with a valid Omang, and all new and existing informal sector businesses were eligible.
He said those who had registered will go through assessment and later undergo training of about 5 days. In his welcome remarks, Kgosi Prince Dihutso of Mogoditshane encouraged residents to take advantage of the fund to grow their businesses
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