2014 “challenging” for NDFD despite increase in loans

Joseph says NDFD loans have impacted they have impacted in excess of 300 jobs.
Joseph says NDFD loans have “impacted in excess of 300 jobs.”

Executive Director at the National Development Foundation of Dominica (NDFD) Cletus Joseph is reporting a $ 3 million increase in their loan portfolio, despite what he describes as a challenging 2014.

“We saw a significant growth in our loan portfolio of a little more than $ 3 million, “Joseph told Dominica News Online (DNO) in an interview on Friday. “The majority of that went to the Micro, Small and Medium Enterprise (MSME) sector. And so that is a positive and by our last calculations, they have impacted in excess of 300 jobs in that last count,” he said.

That notwithstanding, the year was a challenge for the NDFD, Joseph reports.

“2014 was another challenging year for us,” he stated, adding that the NDFD’s mandate which is to develop the MSME sector is itself a challenge, since whatever affects the sector also affects them.

“So whether they just survive or they excel in what they do or whatever challenges they get otherwise will also affect us and we want to ensure that this sector does well and in the end we ourselves will do well,” he explained

The NDFD Executive Director is also concerned about the success rate of small businesses on island.

He stated that in this regard, they are working towards improving it by determining the exact rate of business failure.

He said in 2015, the public can expect to see a strengthening of the MSME sector particularly in the business support program area and adding value in terms of manufacturing and packaging of goods.

Joseph said some of the year’s highlights for the NDFD include financial education and customer service and events such as the Creole in The Streets Expo which provided avenues for growth, sales and exposure for their clientele.

He said the institution is also renewing its calls to delinquent clients to honour their commitments.

2014 was a "challenging" year for the NDFD
2014 was a “challenging” year for the NDFD

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4 Comments

  1. Ittassi Too
    January 3, 2015

    Another Vieille Case man in top position? So Skerrit fired all Roseau people and replaced them with Ittassians? It seems as if the capital of Dominica is now Vieille Case man? Police Commissioner, Manager of DBS radio, Director of Agriculture, The one that holds the keys to the Port, Labor commissioner, PS of Ministry of Heath, Executive Director at the National Development Foundation, the Prime Minister are all from Vieille case? Well look people to cover corruption boy

  2. Joeblo
    January 2, 2015

    What is that at all? “Jump-starting the economy from the bottom up” ? So because the dog don’t know how to wag its tail, we are trying to command the tail to was the dog?

    Well everything upside down papa!!

  3. Matthan J. Walter
    January 2, 2015

    Good job so far Comrade! I am certain that your creative ideas, passion and enthusiasm will impact positively on the Small Business Sector here in Dominica. This will surely constitute the implementation, positively, of the “jump starting” of the economy from the bottom up. I wish you and your Foundation all the best for 2015 .. and beyond!!

    • The Evangelist
      January 3, 2015

      @Matthan J. Walter, it’s nice to hear your voice. I wonder why you remained silent when your dad was minister of Agriculture? Maybe if you had added your voice we would have saved agriculture. But then again, you might just be planning for the future since you don’t expect Ms. Paul to reign for long. Good method comrade!

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