{"id":43669,"date":"2024-02-15T17:03:33","date_gmt":"2024-02-15T17:03:33","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/?p=43669"},"modified":"2024-02-15T16:03:38","modified_gmt":"2024-02-15T16:03:38","slug":"firstcred-lauds-chema-chema-fund","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/firstcred-lauds-chema-chema-fund","title":{"rendered":"FIRSTCRED LAUDS CHEMA CHEMA FUND"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>The recently unveiled Chema Chema Fund, a brainchild of the Minister of Finance, Peggy Serame emerges as a beacon of hope for Botswana\u2019s informal sector, says FirstCred Chief Operations Officer, Mr Ambrose Batsalelwang. <\/b><\/p>\n

On Tuesday when briefing BOPA on the fund, Mr Batsalelwang said in the ever-evolving landscape of economic development, innovative initiatives were pivotal to fostering sustainable growth and creating avenues for job creation.<\/p>\n

He said the Minister\u2019s announcement of the P200 million Chema Chema Fund in the 2024-25 Budget Speech reflected a strategic move towards unlocking the latent potential within the informal sector.<\/p>\n

\u201cIt is indeed a laudable step that aligns with the ethos of economic diversification and inclusivity,\u201d he said. \u201cAs a financial institution deeply invested in the growth of Botswana, FirstCred Limited recognises the profound impact this initiative can have on entrepreneurship and job creation.\u201d<\/p>\n

Mr Batsalelwang said the preliminary data released by Statistics Botswana, indicating a 3.2 per cent contribution to economic growth from the informal sector in 2023, underscored the sector\u2019s untapped potential.<\/p>\n

He reiterated that Minister Serame\u2019s foresight in establishing the Chema Chema Fund aimed to catalyse fundamental transformation within the informal sector.<\/p>\n

He said this injection of capital would provide the much-needed financial support to budding entrepreneurs and small businesses, with FirstCred leading through supporting individual employees of the said sectors with household financial instruments, thus fostering an environment conducive to sustained economic development.<\/p>\n

The Chema Chema Fund was not just a financial instrument, but testament to the government\u2019s commitment to nurturing homegrown talent and fostering economic resilience, he said. Mr Batsalelwang said by empowering the informal sector, it paves the way for increased job opportunities, thereby bolstering the overall economic landscape.<\/p>\n

It was a strategic move that recognised the dynamism and adaptability inherent in small businesses and entrepreneurial ventures, he said.<\/p>\n

He added that the minister\u2019s announcement of additional initiatives, such as the Intellectual Property (IP) Motshelo Scheme and the Intellectual Property Ideas Incubation Centre, reinforced the commitment to indigenous research and innovation. In a rapidly evolving global economy, Mr Batsalelwang said protecting and commercialising intellectual property assets was paramount, indicating that these complementary initiatives will serve as catalysts for creativity, innovation, and, ultimately, economic prosperity.<\/p>\n

Mr Batsalelwang said the Chema Chema Fund represents a forward-looking approach to economic development, acknowledging the pivotal role of the informal sector.<\/p>\n

\u201cAs FirstCred Limited does not only supports the growth of businesses across Botswana, we are forced to innovate at individual employer level as we applaud Minister Serame\u2019s visionary steps towards a more robust and diversified economy,\u201d he said.<\/p>\n

Mr Batsalelwang said the Chema Chema Fund, with its initial capital injection, was not just an investment in the informal sector; it was an investment in the future of Botswana. He urged the nation to collectively embrace and endorse this transformative initiative for the greater economic good of the nation.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. The recently unveiled Chema Chema Fund, a brainchild of the Minister of Finance, Peggy Serame emerges as a beacon of hope for Botswana\u2019s informal sector, says FirstCred Chief Operations Officer, Mr Ambrose Batsalelwang. On Tuesday when briefing BOPA on the fund, Mr Batsalelwang said in the ever-evolving landscape of economic development, innovative […]<\/p>\n","protected":false},"author":84,"featured_media":43668,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,237,234],"class_list":["post-43669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nFIRSTCRED LAUDS CHEMA CHEMA FUND - Botswana<\/title>\n<meta name=\"description\" content=\"The recently unveiled Chema Chema Fund, a brainchild of the Minister of Finance, Peggy Serame emerges as a beacon of ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/firstcred-lauds-chema-chema-fund\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FIRSTCRED LAUDS CHEMA CHEMA FUND\" \/>\n<meta property=\"og:description\" content=\"The recently unveiled Chema Chema Fund, a brainchild of the Minister of Finance, Peggy Serame emerges as a beacon of ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/firstcred-lauds-chema-chema-fund\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-15T17:03:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2024\/02\/sm_1708000352.441119.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"524\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/firstcred-lauds-chema-chema-fund#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/firstcred-lauds-chema-chema-fund\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"FIRSTCRED LAUDS CHEMA CHEMA FUND\",\"datePublished\":\"2024-02-15T17:03:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/firstcred-lauds-chema-chema-fund\"},\"wordCount\":497,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/firstcred-lauds-chema-chema-fund#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2024\/02\/sm_1708000352.441119.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/firstcred-lauds-chema-chema-fund#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/firstcred-lauds-chema-chema-fund\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/firstcred-lauds-chema-chema-fund\",\"name\":\"FIRSTCRED LAUDS CHEMA CHEMA FUND - 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