SME Digital, BCC sign MoU to support youth entrepreneurs

SME Digital has signed a Memorandum of Understanding (MoU) with the Business Centre Corporation (BCC) to strengthen support for young entrepreneurs under the Youth Entrepreneurship Financing initiative, the two organisations said in a joint statement dated July 16, 2026.

The agreement establishes a framework that combines financing with mentorship, entrepreneurship training, business formalisation, and project monitoring for young entrepreneurs, according to the statement.

Under the MoU, BCC will provide these services to beneficiaries of the Youth Entrepreneurship Financing programme, giving them practical skills to establish and grow their businesses, the statement said.

Youth Entrepreneurship Financing, launched in partnership with Bank of Maldives (BML), offers financing of up to MVR 150,000 for Maldivians aged 18 to 30 through a fully digital application process on the Swipe mobile app.

SME Digital CEO Badhurudheen Hassan said the company's goal extends beyond financing. He said the partnership brings financing, mentorship, and business development together in one system, so young entrepreneurs get guidance at every stage of their journey.

BCC Managing Director Ibrahim Ziyau said young entrepreneurs are an important source of innovation and new economic opportunities. He said the partnership could help turn promising ideas into sustainable businesses, create employment, and contribute to the government's goal of raising the digital and creative sectors' share of GDP to 15%. He also credited President Dr. Mohamed Muizzu for what he described as a strong commitment to empowering young people and advancing the digital and creative economy.

The statement said beneficiaries will receive support for business setup and post-finance monitoring, an approach intended to improve business sustainability and the programme's long-term impact.

BCC is a wholly government-owned enterprise under the Ministry of Economic Development, Trade and Business, and is mandated to operate SME business centres and support small and medium enterprises nationwide.

Applications for Youth Entrepreneurship Financing are open through the Swipe app.