[Source: Supplied]

Vodafone Fiji’s Regional Chief Marketing Officer Rajnesh Prasad has stressed the critical role of e-commerce as a lifeline for many Micro, Small, and Medium Enterprises (MSMEs) during the signing of a Memorandum of Agreement with the Reserve Bank of Fiji.

The agreement extends the Subsidy Scheme for MSMEs for Vodafone Fiji’s VitiKart platform for an additional two years, highlighting the commitment to support Fiji’s MSMEs in navigating the evolving e-commerce landscape.

RBF Governor Ariff Ali highlighted RBF’s dedication to fostering an enabling environment for the country’s MSMEs, acknowledging their role in economic growth and job creation.

With Vodafone Fiji’s support, Ali expressed confidence in providing resources and tools for these businesses to thrive in the digital age.

He underlined the transformative impact of e-commerce on business conduct and highlighted the partnership’s significance for the MSME sector to harness the benefits of online markets.

The Subsidy Scheme for MSMEs, initially launched in response to challenges posed by the COVID-19 pandemic facilitates small businesses in expanding their online presence without significant investments.

This extension, signifying a long-term commitment from RBF and Vodafone Fiji aims to further develop the MSME sector in Fiji.

The extended MSME Subsidy Scheme will fully subsidize the monthly subscription fees for eligible MSMEs registered on VitiKart over the next two years.

With over 100 merchants on the platform, this extension aims to enable more MSMEs to establish and maintain a robust online presence, attracting a broader customer base.

The scheme seeks to empower MSMEs equipping them to actively participate in the growing e-commerce sector and capitalize on its opportunities.