The government has allocated nearly $120 million to support the growth and development of micro, small, and medium enterprises (MSMEs) in the 2024–2025 National Budget.
Speaking at the St Pius Paris Community Fun Day and Bazaar in Raiwaqa, Suva, Trade Minister Manoa Kamikamica highlighted that this commitment spans across all ministries.
Kamikamica stated that the funds include free loans with a three-year interest subsidy through Merchant Finance, aimed at supporting the development of iTaukei resource owners and investments by provincial holding companies.
He also mentioned the Graduate Business Start-Up Grant Scheme, which will provide training for final-year tertiary students to set up their own businesses.
Furthermore, the Micro Qualification Grant was introduced as a new initiative offering unemployed youth opportunities for competency-based training.
Kamikamica noted a 38 percent increase in the ministry’s budget, totaling $3.6 million.
“This increase is intended to support more MSMEs across various sectors, including exporters, the service sector, rural development, and young entrepreneurs,” he said.
“We have also established the first MSME information hub at the Suva Flea Market.
“Business Assistance Fiji and the Fiji Development Bank have also joined us as partners.”