A brand new support program for SMEs, ‘noubiznes’ (our business), has officially been launched by Mauritius-based CIM Finance.
The NouBiznes SME Portal is presented as an innovative digital one-stop platform aiming to upskill SME owners with the necessary knowledge, opportunities, and networks to thrive in commercial and professional spaces.
Marc Van Beuningen, Group CEO of Cim Finance, said SMEs have been hit hard by the pandemic because of their vulnerability.
“It is our responsibility to help them recover. SMEs need support to face new challenges such as treasury management and the ability to retain available resources,” he said.
The platform, which includes masterclasses and webinars, is expected to play an important role for SMEs.
Financial Services Minister Mahen Seeruttun pointed out that SMEs are still recovering from the effects of COVID-19 and the Ukraine crisis.
Referring to the 10-Year Master Plan for the SME sector, he indicated that it provides for the attainment of specific targets to be reached by 2026, namely: raising SMEs’ contribution to GDP from 40% to 52%; raising SMEs’ share of total national employment from 55% to 64%; and, increasing current exports from less than 3% to about 18%.
In addition, Mr Seeruttun, recalled that financing through online credit platforms operated by digital service providers is known to be still a niche product.
Online platforms such as Peer to Peer Lending portals have muscled in the SME space endeavouring to compete with traditional services offered by banks, he pointed out. We need to step up literacy and awareness on these alternatives, he added.
Cim Finance Chairperson Mrs Aisha Timol said NouBiznes was created to demonstrate its long-term engagement with SMEs.
Source: GIS Mauritius
