Central bank to strengthen financial inclusion

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RBF and The Forge Pacific representatives at last week’s partnership signing. Picture: RBF

A PARTNERSHIP to strengthen Micro, Small and Medium Enterprises (MSMEs) across Fiji has been signed between the Reserve Bank of Fiji (RBF) and The Forge Pacific Pte Limited (The Forge Pacific).

At the formal signing of the partnership last week, RBF governor Ariff Ali said the partnership recognises that MSME development requires both responsive policies and practical support.

“By working with The Forge Pacific, we are investing in a private-sector solution that will strengthen business capability and help prepare MSMEs to access emerging financing opportunities, including those enabled through Fiji’s new P2P lending platform,” he said.

The Forge Pacific is a Fiji-based business development service provider that supports entrepreneurs and MSMEs through mentoring, coaching and investment readiness programs designed to help businesses grow and access finance.

Under the partnership, RBF and The Forge Pacific will design and implement a five-month business readiness program for 20 MSMEs and equip them with practical skills and capabilities in governance, financial management, compliance, strategic planning and investment readiness.

The initiative, according to RBF, aligns with Fiji’s National Financial Inclusion Strategy 2022–2030, the MSME Strategic Plan 2025–2030, and the country’s broader development priorities to strengthen entrepreneurship and financial inclusion.

It also complements the implementation of the Access to Business Funding Act 2025, which introduces alternative financing mechanisms aimed to address longstanding financing challenges faced by small businesses.

“As Fiji prepares for the introduction of its first Peer-to-Peer (P2P) Lending Platform, the program will help develop a pipeline of businesses that are better prepared to access both traditional and alternative sources of finance,” Mr Ali said.

“Participants will strengthen their governance, financial capability and investment readiness, improving their ability to attract lenders and investors.”

The Forge Pacific co-founder Watesoni Nata Jr. welcomed the partnership and its potential impact on Fiji’s entrepreneurial ecosystem.

“Many MSMEs have strong potential but face challenges in building capability, becoming investment-ready and accessing finance,” he said.

“Through this program, we will provide practical coaching, mentoring and business development support that empowers entrepreneurs to build stronger, sustainable businesses.

“Beyond access to finance, this initiative is about creating jobs, fostering innovation and contributing to a more resilient and inclusive Fijian economy.”

The program will begin with The Forge Business Readiness Assessment, providing each participating MSME with a comprehensive evaluation of its current capabilities and identifying priority areas for development.