Tuesday, 16th July 2024

Saint Lucia to provide 50 MSMEs with POS machines

Wednesday, 8th November 2023

Representative Image
Saint Lucia: Fifty MSMEs are being helped with technologically advanced POS machines with a one-year subscription by the Government of Saint Lucia. The effort is being organised by the Ministry of Commerce, Manufacturing, Business Development, Cooperatives and Consumer Affairs, along with the Organisation of American States (OAS). The machines will be made available through the Bank of Saint Lucia, which will act as a local service provider.

According to the officials, the point-of-sale machines are designed to strengthen the day-to-day functioning of the local businesses. The machines support advanced functionalities like inventory management and customer service channels. As a result, the MSMEs will be able to formalize their structures and increase their competitiveness.

The Ministry of Commerce of Saint Lucia is currently celebrating Business Month under the theme “Sustaining Trade in the Digital Age”. The initiative is in echo with this project. The Government of Saint Lucia has been making efforts to support the growth and development of the Private Sector. MSMEs form a significant share of the economy of Saint Lucia and help in providing employment, stimulating creation, and contributing to the energy of local communities. By equipping these MSMEs with more robust tools, the government aims to build a stronger and more adaptive economy.

The initiative also highlights the valuable strategic relationship of the Government of Saint Lucia with OAS.

The OAS is playing a significant role, through its Development Cooperation Fund initiative, in promoting economic growth, development, and social progress in the region.

The significant stakeholder in the initiative is the Bank of Saint Lucia. The Bank of Saint Lucia will provide the POS machines at a discounted rate to the MSMEs. The Bank is also responsible for providing the necessary training and technical support. The Bank’s involvement is a reflection of the importance of partnerships between the public and private sectors in driving the economic development of Saint Lucia.