ITaukei Trust Fund Board partners with Market Development Facility

The iTaukei Trust Fund Board (TTFB) partnered with the Market Development Facility to establish the Business Development Services (BDSs), supporting iTaukei and Rotuman Micro Small and Medium Enterprises (MSMEs).

There will be closer co-operation between the two organisations through the signed Memorandun of Understanding.

iTaukei and Rotuman MSMEs will be supported through a robust capacity-building and upskilling training in business management, leadership and entrepreneurial competencies.

Every business environment has inherent operational challenges, some are capital in nature whilst some are technical. The existence of the challenges has over time somewhat deterred and staggered iTaukei and Rotuma entrepreneurial ambitions.

Through these Business Development Services, iTaukei Trust Fund Board and MDF hope to counter and alleviate some of the more fundamental ones, to ensure the sustainable longevity of resource ownerbased businesses.

“Australia’s MDF is excited at the opportunity to partner with TTFB to support more indigenous participation and engagement in business.

“This partnership will provide a platform for MDF to work closely with TTFB to address challenges faced by the iTaukei and Rotuman business communities in accessing effective business training and advisory support,”said Malcolm Bossley, MDF country director.

Under the MDF-TTFB partnership, MDF will work on capacity building of TTFB’s local Entrepreneurship Development Advisers.

TTFB’s chief executive officer Aisake Taito said “we are also pleased to partner with MDF as they have a broad hands-on experience in empowering communities within developing countries across the world, especially in Fiji, the Pacific and Asia.”

“MDF will inject its training strengths and guidance in this initiative, which our communities will be able to access first-hand.

“This initiative satisfies one of our strategic mandates, which is to support and guide the management, leadership and entrepreneurial skills of iTaukei and Rotumans.”

Fiji’s current COVID-19 situation has exacerbated an already trying economic conditions for iTaukei and Rotuman entrepreneurs.

As part of this MOU, both organisations have also agreed to share information on research and activities, that will improve the understanding of the MSME landscape, challenges and opportunities in Fiji.

TTFB and MDF have agreed to build capacity around business training and mentoring through a ‘Train the Trainers’ programme.

It will be complemented with a result monitoring and measurement system.

TTFB will coordinate the face-toface or online training whilst MDF will provide international master trainers supported by relevant incountry MDF personnel .