Praneeta Prakash 
[Source: Fiji Government]
Two powerhouses, Tappoo Group of Companies and the Fiji Development Bank, have formalized a partnership to support local handicraft makers, vendors, and their families.
Through the Public-Private Partnership Agreement, the bank will extend financing opportunities to registered SME suppliers of the Tappoo Group of Companies Ltd.
Tappoo Group of Companies Acting Chief Executive, Kaushal Tappoo says the partnership will create new opportunities for the SMEs.
“For over six decades, we have nurtured direct relationships with our skilled and talented handicraft vendors, who form an integral part of the tourism industry through the preservation and celebration of our indigenous handicrafts, allowing our tourists to experience the true essence of our vibrant Fijian culture.”
[Source: Fiji Government]
Fiji Development Bank Chief Executive, Saud Minam says the SME sector has a huge potential which is missing out on access to finance.
“This is a loan can go up to $100,000. It’s not a small loan or medium sized loan. You can actually go up to $100,000. With the support of the government of Fiji, we’ve been able to provide an interest rate which I don’t think that anyone in the market can match, especially for this segment, and the interest rate is about 3.99 percent.”
[Source: Fiji Government]
Minister for Small and Medium Enterprises, Manoa Kamikamica says this strategic collaboration is a demonstration of their shared commitment to nurturing the growth and resilience of SMEs.
