By DALCY LULUA
THE Kundiawa-Gembogl District Development Authority (DDA) has officially signed a Memorandum of Understanding (MoU) with the National Development Bank (NDB) to provide vital support to small and medium enterprises (SMEs) in the district.
This partnership aims to empower entrepreneurs and small business owners by offering resources and assistance to foster their growth.
The goal is to create economic opportunities and enhance livelihoods within the district.
Member for Kundiawa-Gembogl Hon. Muguwa Dilu expressed enthusiasm for the collaboration and pledged K1 million to support the SMEs.
He emphasized that this investment would grant access to funds and assist SMEs in meeting compliance requirements as well as promoting self-reliance.
Various small businesses, including trade stores, public motor vehicle owners and farmers will benefit from this partnership.
The initiative sets ambitious targets for the next five years, aiming to support ten SMEs from each Local Level Government.
NDB will provide guidance and assistance to ensure funds are utilized for genuine growth and development.
This collaboration seeks to strengthen local businesses and enhance their financial stability.
Dilu encouraged SMEs to approach NDB for their financial needs, streamlining resources and ensuring optimal support for businesses.
The MoU complements the development of an SME incubation center in Yuai and an insurance scheme for the agriculture sector.
Furthermore, a market facility that is currently under construction will enable farmers to sell their produce nationwide.
