FIJI has launched the Implementation Taskforce for the newly passed Access to Business Funding Act, signalling a new era of financial empowerment for the country’s micro, small and medium enterprises (MSMEs).
Taskforce co-chair and Ministry of Trade permanent secretary Shaheen Ali stressed the Government’s determination to see the Act translate into real, grassroots impact.
“We all recognise the vital importance of this legislation. MSMEs face challenges in accessing finance and we are dedicated to exploring innovative solutions to bridge these gaps and support your growth,” Mr Ali said.
He echoed the Government’s sentiment that sees financial inclusion not just as a policy but as a development imperative.
Mr Ali said with the taskforce now operational, Fiji’s MSME community could expect tangible reforms in the months ahead.
He said whether through simplified regulatory processes or the introduction of secure, tech-enabled fundraising platforms, the Government’s message was clear that entrepreneurs would no longer be left behind.
Mr Ali urged small business owners to stay informed and be ready to seize the opportunities the new framework presented.
The taskforce’s inaugural meeting was held recently and marked the official start of the Act’s rollout.
According to the Ministry of Trade, the legislation – backed by unanimous parliamentary support – is designed to unlock alternative funding pathways for MSMEs, often described as the backbone of the local economy.
Members of the taskforce include representatives from the Ministry of Trade, Asian Development Bank’s (ADB) Pacific Private Sector Development Initiative (PSDI), Reserve Bank of Fiji (RBF), Office of the Solicitor General, Registrar of Companies, and the MSME Council.
The taskforce’s mission is to design a clear, practical implementation roadmap that would give life to the transformative policy.
The purpose of the Act is to facilitate investor and lender funding for businesses carrying on business in Fiji.
Note: This article was first published on the print version of the Fiji Times dated June 6, 2025
