Business

MSME support boosted with $120m allocation

August 16, 2024 5:42 am

[File Photo]

Deputy Prime Minister Manoa Kamikamica says in the 2024-25 financial year, the Government has provided the highest support to Micro, Small and Medium Enterprises of close to $120 million in various sectoral ministries.

Kamikamica says for the Ministry that is responsible for MSMEs, a budget of four million dollars was allocated which also includes the newly introduced Programme for Co-operative Business in this financial year.

He says the MSMEs play a critical role in the economy by promoting sustainable and resilient growth, creating jobs, supporting livelihood and most importantly, contributing towards the supply chain.

Article continues after advertisement

He highlighted this during the handover of two tractors.

The Nakita Farmers Cooperative in Togobula Village, and Deepak Cooperative in Maro Village, Sigatoka received a truck each this morning.

Nakita Farmers Cooperative Chair, Rupeni Qaraniqio says they managed to buy a machine because they started with only farming tools to manually plough and tilt the land.

Qaraniqio says the machinery has assisted the family to plant 10 lines of cassava, water melons and some vegetables and it has grown our farm yield.”

He adds that during COVID they managed to yield 70 bags and now with the new machinery they are hoping the production will increase.