149 Projects Worth Rs 165-m Approved Under MBGS Unit
11 years, 5 months ago - November 23, 2012
The Mauritius Business Growth Scheme (MBGS) Unit set up 20 months ago by the government in collaboration with the World Bank has so far approved 149 projects for an amount of Rs 165 million, as assistance to any commercial activity contributing to the economy of Mauritius
According to the minister of Business and Enterprise Jim Seetaram, the MBGS Unit is fully committed to its mission.
“Around 650 applications in all have been received since March 2011. Those that have not been approved yet are being assessed and in many cases they are further being mentored so as to qualify under the MBGS Scheme,” he said.
Small and Medium Enterprises account for 86 per cent of beneficiaries, only 14 per cent being large enterprises.
The MBGS unit delivers three core services to beneficiary firms. These involve a 90-10 Payback ‘Technical Assistance’ Scheme for the buying-in of more specialised outside expert services, a new Payback “Start-ups Entrepreneurship” Scheme to enable creative entrepreneurs to be paid a monthly salary for one year through MBGS, in order to ‘make the jump’ into an innovative business and the last one, mentoring or hand-holding, assisting, advising beneficiary firms.
