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19 businesses receive much needed financial help

November 13, 2015 4:15 am

Nineteen local businesses today received much needed assistance from government under the National Export Strategy.

They received grants to the total value of $2.2 million for the expansion of their businesses, in order to increase their exports.

Minister for Trade, Faiyaz Koya, urged the grant recipients to ensure they are successful so the country’s exports can also benefit.

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‘’I encourage the companies to continue to grow but more importantly to diversify and add more value to our precious raw material. If we do this we get more money for our exports. You benefit and the country benefits. This applies to all recipients and aspiring exporters’’.

Grant recipient Mere Waqalala, exports fifty litres of Virgin Coconut Oil to Australia in a month.

Today, she received over $14,000 for the purchase of some much needed equipment, to help increase her export.

The number of businesses now assisted under the National Export Strategy now stands at 77 and the total value of assistance stands at approximately $11.3 million.

All companies assisted under the National Export Strategy are monitored by the Ministry.

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