THE South Pacific Business Development (SPBD) was strongly represented at the BAF MSME Conference 2025, which opened in Denarau on Thursday.
SPBD board director Loraine Seeto said 24 members from branches in Suva in and Nausori, mainly centre chiefs, and 12 SPBD staff, among them branch managers, team leaders and centre managers made up the SPBD contingent to the conference.
Ms Seeto also represented SPBD on the organising committee of the conference and was a panelist on a session on Circular Economy and moderator on the Access to Finance session, a topical issue for MSMEs.
“Access to finance for MSMEs lies at the very heart of economic resilience and inclusive growth,” Ms Seeto said.
“MSMEs are the backbone of Fiji’s economy. They represent over 90 per cent of all businesses and provide employment, income and innovation across both urban and rural communities. Yet, access to finance remains one of their most persistent challenges – often due to lack of traditional collateral, limited credit history or complex lending processes.”
The Access to Finance session on Day One of the two-day event dwelled on current legislation reforms with the Access to Business Funding Act 2025 and the Personal Properties Securities Act 2017 and what their provisions for MSMEs.
“The Access to Business Funding Act 2025 represents a new wave of legislative reform aimed at bridging those financial gaps,” Ms Seeto, a former Reserve Bank of Fiji (RBF)chief manager and advisor to the Governors, said.
In tandem, the Personal Property Securities Act 2017, though already in place, has become increasingly relevant. It enables businesses, especially MSMEs, to use movable assets such as equipment inventory or receivables as collateral for loans. However, many MSMEs are still unaware of how to use this system to their advantage.”
Panelists were RBF chief manager Financial System Development Caroline Waqabaca, Asian Development Bank Private Sector Development senior finance sector specialist Jeremy Cleaver, ADB Frontier Investment Associate Shyama Verma and Merchant Finance chief executive officer Veilawa Rereiwasaliwa.
Note: This article was first published on the print version of the Fiji Times dated June 28, 2025
