The Government plans to review grants for Medium, Small, and Micro Enterprises (MSMEs) across various ministries and will implement a centralized database to enhance access to financing for the sector. This initiative is part of the National Development Plan 2025-2029 and Vision 2050, introduced this week by Trade Minister Manoa Kamikamica in Suva.
The Government acknowledges the potential of the MSME sector to drive economic growth and improve the livelihoods of citizens while also highlighting the persistent issues faced by MSMEs in Fiji, particularly the challenges associated with obtaining affordable and timely financing.
Currently, the MSME Fiji Unit, which operates under the Ministry of Trade and MSME, manages five grant programs: the Integrated Human Resources Development Programme, National Export Strategy Programme, Northern Development Programme, Young Entrepreneurship Scheme, and the Trade Enhancement Programme. In addition to the dedicated unit, other ministries, such as the Ministry of Agriculture and Waterways and the Ministry of Rural and Maritime Development and National Disaster Management, also offer financial support to MSMEs.
In the recently announced 2024-2025 National Budget, a total of $120 million is allocated to support MSME development across all sectors. However, the Ministry of Trade’s MSME Fiji Unit is responsible for distributing only $3.6 million of this budget through the aforementioned grant programs.
When announcing the opening of grant applications last month, Minister Kamikamica indicated that the $120 million has been channelled to various ministries, including Trade, Agriculture and Waterways, Rural Development, Multi-Ethnic Affairs, and the Sugar Industry, to further support the MSME sector. This support aims to cultivate local resource ownership, foster entrepreneurial spirit, and promote sustainable growth across all domains.
He also noted that last year, 60 percent of the MSME grants allocated by the Ministry of Trade went to businesses owned by women, although statistics from the National Development Plan indicate that only 19 percent of registered MSMEs are led by women. This translates to an estimated 5,500 registered women-owned MSMEs, alongside 18,742 self-employed women and 4,650 women engaged in handicrafts.