Fiji is embarking on an ambitious journey to enhance the economic contributions of Micro, Small, and Medium Enterprises (MSMEs) as part of its broader economic strategy. Deputy Prime Minister and Trade Minister Manoa Kamikamica announced a target to increase the sector’s share of the Gross Domestic Product (GDP) from the current 18 percent to an impressive 40 percent. This initiative was unveiled during the launch of Hummingbird META 2025 at the Grand Pacific Hotel in Suva.
Kamikamica emphasized that this program represents not merely a procedural launch but a significant opportunity to invigorate entrepreneurship within Fiji. He indicated that the government is committed to fostering an environment that accelerates innovation, enhances financial inclusion, and strengthens support frameworks for MSMEs, which currently account for about 98.7 percent of registered businesses and over 64 percent of employment in the nation.
Two pivotal platforms were introduced as part of this initiative. The Growth Starter System PLUS+ will provide essential business diagnostics, funding opportunities, and customized growth strategies, while the Hummingbird Certified Mentor Program aims to connect budding entrepreneurs with seasoned business leaders to bolster their skills and confidence.
Additionally, a preview of the Hummingbird Crowdfunding Masterclass was presented, aiming to equip MSMEs with tools to leverage alternative financing avenues, such as peer-to-peer lending and diaspora funding, with support from the Reserve Bank of Fiji and the Asian Development Bank.
According to Justin Hoang, the founder of the Hummingbird META, this initiative is rooted in a commitment to inclusivity, supporting rural entrepreneurs, women-led cooperatives, youth ventures, and underserved communities. He emphasized the significance of structured support for entrepreneurs navigating the challenges of business.
This collaborative effort from government initiatives and programs aligns with earlier commitments outlined by Kamikamica, emphasizing the indispensable role of the MSME sector in fostering national growth and overcoming financial hurdles. As Fiji’s economy pivots towards a more sustainable and digitally inclusive landscape, such initiatives present a hopeful outlook for local entrepreneurs, illustrating a concerted push towards a thriving, innovative ecosystem that could ultimately redefine the nation’s economic landscape.
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