Significant production increases of small businesses celebrated

CEO of the Small Business Bureau, Mohamed Ibrahim during his remarks at an award ceremony (Photo: DPI/ November 21, 2023)

“This accomplishment reflects the commitment and hard work of our entrepreneurs who are making some significant contributions to the agriculture sector.

“These products not only showcase the versatility of our entrepreneurs but also contribute to the growing demand for healthy and locally produced products,” Ibrahim said.

There was also a record production of over 52,000 sachets of teabags and 599 litres of virgin coconut oil.

For the Bureau, this means there is potential for the businesses to maximise production and compete on the international market.

Ibrahim said dried peppers and mangoes that have the potential for broader market reach is encouraging.

Over $284 million was dispersed to 21 small business clients through the loan guarantee programme.

He also reminded that 1,400 entrepreneurs will benefit from grant financing amounting to $300 million by year end.

In a bid to deliver on its promise of creating a conducive environment for private sector investment, the government has set aside $584.2 million for the Small Business Bureau and the Small Business Development Fund.