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 Parish Community Fun Day and Bazaar in Raiwaqa, Suva, Trade Minister Manoa Kamikamica announced that this commitment extends across all ministries.
According to Kamikamica, the funds will include free loans with a three-year interest subsidy through Merchant Finance, aiming to assist 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 final-year tertiary students with training to establish their own businesses.
Additionally, Kamikamica introduced the Micro Qualification Grant, a new initiative offering unemployed youth opportunities for competency-based training.
The ministry has observed a 38 percent increase in its budget, amounting to $3.6 million.
“This increase is intended to support more MSMEs across various areas, whether they are exporters, part of the service sector, involved in rural development, or young entrepreneurs,” he said.
“We have also established the first MSME information hub at the Suva Flea Market.”
He noted that Business Assistance Fiji and the Fiji Development Bank have joined as partners in these initiatives.