Government of the Republic of Fiji
Government of the Republic of Fiji
10/04/2024 | Press release | Distributed by Public on 10/04/2024 02:59
HE PRESIDENT RT. WILIAME KATONIVERE'S ADDRESS AT THE 14TH SPBD FOUNDATION DAY & BUSINESSWOMAN OF...
The Founder and President of the South Pacific Business Development Network, Mr. Greg Casagrande,
The General Manager and Director of the South Pacific Business Development Fiji, Mr. Elrico Munoz,
The Director of the South Pacific Business Development Fiji and Chief Judge of the 14th SPBD Business Woman of the Year Awards, Mrs. Lorraine Seeto,
Members of the Diplomatic Corps,
All the Nominees of this year's South Pacific Business Development Business Woman of the Year,
The Members South Pacific Business Development management team and SPBD members,
Esteemed Judges,
Distinguished Guests,
Ladies and Gentlemen, and
Members of the Media.
Bula Vinaka, Namaste, and a very Good Evening to you all.
I extend my sincere appreciation to the Executive Management of the South Pacific Business Development, commonly known as SPBD, for their kind invitation to be here with you this evening.
It is indeed my privilege to celebrate with you the 14th South Pacific Business Development Foundation Day and Businesswoman of the Year Awards Night, recognising the outstanding achievements of our nation's remarkable women micro-entrepreneurs, who are members of SPBD.
Tonight is more than just an evening of awards presentations. It is about honouring the resilience, creativity and dedication of the women who are transforming their lives and uplifting their families, communities, and our beloved nation.
I wish to acknowledge the presence of the Founder and President of the South Pacific Business Development Network, Mr. Greg Casagrande, the General Manager and Director of SPBD Fiji, Mr. Elrico Munoz, and the Director of SPBD Fiji and Chief Judge of the 14th SPBD Businesswoman of the Year Awards, Mrs. Lorraine Seeto.
I applaud the SPBD Network initiative and its Fiji agency because of progressive opportunities as well as the potential for growth of women in micro enterprises in Fiji. According to the Asian Development Bank data of 2023, women account for 19 percent of micro, small, and medium-sized enterprises. The assessment estimates that there are 5,500 registered women involved in micro, small and medium enterprise ventures. This is in addition to the 18,742 self-employed women and 4,650 women working in handicrafts.
As we celebrate the entrepreneurial spirit of our women, I commend the foundation that has been laid and the intense work that continues behind the scenes to elevate the status of women involved in MSMEs in Fiji.
Ladies and Gentlemen, the theme of this year's Awards "Women-Led Micro-enterprises Enriching Lives and Building Futures" is a powerful and fitting reflection of the transformative impact women are making in Fiji's socio-economic landscape. The holistic nature of women-led enterprises, which often focus on creating sustainable livelihoods, addressing social challenges and nurturing the next generation is clear. The theme underscores the idea that when women are empowered economically, they become key agents of change, fostering prosperity for future generations.
The achievements of the nominees serve as powerful reminders of the limitless potential that lies within each of us when given the right opportunities. Through the invaluable support of SPBD, you have been able to turn your dreams into thriving businesses. Your courage to take that first step towards financial independence is an inspiration to us all. In doing so, you have empowered yourselves and the next generation.
As a tool for empowering women, many microenterprises are operated by women, especially through initiatives like SPBD, which provides microloans to help female entrepreneurs build their businesses. By providing financial independence and opportunities for economic participation, the micro, small and medium enterprise or MSME sector has enabled many women to improve the living standards of their respective families, invest in education, and contribute to their communities. These businesses are key to alleviating poverty and enhancing gender equality in Fiji.
I am pleased that Fiji is now more focussed on microfinance facilities. At the recent Fiji Development Bank's National Small and Medium Enterprise Awards, I noted the great strides SME has contributed to economic growth and employment. The Ministry of Trade, Cooperatives, Small and Medium Enterprises and Communications officially announced its intention to expand its mandate to include micro-enterprises in January 2024 and the inclusion of "micro" took place in August this year.
This addition aimed to enhance support for micro, small, and medium enterprises, acknowledging their critical role in the creation of employment and economic development. SPBD is very much a part of the micro-enterprise sector.
At the inaugural MSME Conference that was held in Fiji in March of this year, the Minister for Trade, Cooperatives, Small and Medium Enterprises and Communications, Honourable Minister Manoa Kamikamica, highlighted that his Ministry was working closely with consultants on developing the Micro, Small and Medium Enterprise Act, the Access to Capital Bill, and Fiji's first ever MSME Strategic Plan. I understand that SPBD was consulted on these matters.
The MSME sector contributes significantly to the national Gross Domestic Product, as well as employment generation. MSMEs account for approximately 18percent of Fiji's GDP and employs over 60percent of the workforce. This sector comprises about 82percent of registered businesses, emphasising its role in Fiji's economic structure. With over 30,000 registered MSMEs, the sector is seen as the backbone of the economy, driving growth, fostering innovation, and encouraging diversification, particularly in rural areas.
Ladies and Gentlemen, SPBD's journey began in Samoa in January 2000. Its regional expansion started with the establishment of SPBD Tonga in June 2009, followed by the launch of SPBD Fiji in December 2010. SPBD Solomon Islands commenced operations in November 2012. SPBD Vanuatu became the fifth country in the network to open in April 2017. We eagerly await the opening of the SPBD Kiribati office soon.
In Fiji, SPBD celebrates its 14th year of operations, with 10 branches established in Suva, Sigatoka, Savusavu, Lautoka, Rakiraki, Labasa, Taveuni, Levuka, Nabouwalu, and Nausori between the years 2010 to 2024. These branches serve more than 440 village-based women's groups, with a membership base of over 9,000 across the country. This sustained growth is impressive. We look forward to seeing even more branches and groups established throughout Fiji, particularly in the maritime areas where access to finance is even more crucial for women.
I wish to congratulate SPBD Fiji for reaching the remarkable milestone of FJ$100 million in loan disbursements this year. It is particularly heartening to know that our very own Fiji Development Bank partially funds this unprecedented accomplishment.
I recall, on 28th April 2018, in my capacity as Tui Macuata, I had opened SPBD's Labasa branch. The expansion was part of SPBD's initiative to empower women entrepreneurs in the North through microfinance. I understand that the Labasa office has now expanded to accommodate the growing needs of their women micro-entrepreneurs in the Macuata Province. That is an excellent achievement and, at the risk of sounding biased, I am pleased that my Province is well represented here tonight at the Vodafone Arena.
Again, I am pleased that SPBD is fully committed to empowering its members, especially women in rural and underserved communities, with business training, unsecured credit, and ongoing guidance to start and grow their small businesses. SPBD's continued partnerships and collaboration with stakeholders drives the organization's visibility in the public eye. This, in turn, creates a sense of inclusivity and ownership that is essential to your holistic growth.
To the executive management of SPBD, vinaka vakalevu for your commitment to creating opportunities for our women. Your support has opened doors and provided the resources needed for our women to shine. Together, we are building a more inclusive and prosperous Fiji, one that recognises and nurtures the talents and potential of every individual.
I acknowledge past winners of the SPBD Businesswoman of the Year Award. I hope that your achievement has been a source of inspiration.
To the finalists, tonight is your night. Congratulations! Your individual success stories are a consolidation of perseverance, determination, and hope. You are proof that with vision, hard work and the right support, anything is possible. The road to success is never easy, but you have shown us that when you are guided by purpose, you can overcome any obstacle. You are role models for the women and girls of Fiji, and your successful stories will inspire many to follow in your footsteps.
May you keep reaching for greater heights, knowing that you carry with you the pride of a nation that celebrates your accomplishments. May the awards you receive urge you to grow as individuals and professionally for a better quality of life and a better Fiji.
Vinaka Vakalevu, and may tonight's celebration be the beginning of even greater success stories for all of you.
May God bless you all and may God bless Fiji.
The General Manager and Director of the South Pacific Business Development Fiji, Mr. Elrico Munoz,
The Director of the South Pacific Business Development Fiji and Chief Judge of the 14th SPBD Business Woman of the Year Awards, Mrs. Lorraine Seeto,
Members of the Diplomatic Corps,
All the Nominees of this year's South Pacific Business Development Business Woman of the Year,
The Members South Pacific Business Development management team and SPBD members,
Esteemed Judges,
Distinguished Guests,
Ladies and Gentlemen, and
Members of the Media.
Bula Vinaka, Namaste, and a very Good Evening to you all.
I extend my sincere appreciation to the Executive Management of the South Pacific Business Development, commonly known as SPBD, for their kind invitation to be here with you this evening.
It is indeed my privilege to celebrate with you the 14th South Pacific Business Development Foundation Day and Businesswoman of the Year Awards Night, recognising the outstanding achievements of our nation's remarkable women micro-entrepreneurs, who are members of SPBD.
Tonight is more than just an evening of awards presentations. It is about honouring the resilience, creativity and dedication of the women who are transforming their lives and uplifting their families, communities, and our beloved nation.
I wish to acknowledge the presence of the Founder and President of the South Pacific Business Development Network, Mr. Greg Casagrande, the General Manager and Director of SPBD Fiji, Mr. Elrico Munoz, and the Director of SPBD Fiji and Chief Judge of the 14th SPBD Businesswoman of the Year Awards, Mrs. Lorraine Seeto.
I applaud the SPBD Network initiative and its Fiji agency because of progressive opportunities as well as the potential for growth of women in micro enterprises in Fiji. According to the Asian Development Bank data of 2023, women account for 19 percent of micro, small, and medium-sized enterprises. The assessment estimates that there are 5,500 registered women involved in micro, small and medium enterprise ventures. This is in addition to the 18,742 self-employed women and 4,650 women working in handicrafts.
As we celebrate the entrepreneurial spirit of our women, I commend the foundation that has been laid and the intense work that continues behind the scenes to elevate the status of women involved in MSMEs in Fiji.
Ladies and Gentlemen, the theme of this year's Awards "Women-Led Micro-enterprises Enriching Lives and Building Futures" is a powerful and fitting reflection of the transformative impact women are making in Fiji's socio-economic landscape. The holistic nature of women-led enterprises, which often focus on creating sustainable livelihoods, addressing social challenges and nurturing the next generation is clear. The theme underscores the idea that when women are empowered economically, they become key agents of change, fostering prosperity for future generations.
The achievements of the nominees serve as powerful reminders of the limitless potential that lies within each of us when given the right opportunities. Through the invaluable support of SPBD, you have been able to turn your dreams into thriving businesses. Your courage to take that first step towards financial independence is an inspiration to us all. In doing so, you have empowered yourselves and the next generation.
As a tool for empowering women, many microenterprises are operated by women, especially through initiatives like SPBD, which provides microloans to help female entrepreneurs build their businesses. By providing financial independence and opportunities for economic participation, the micro, small and medium enterprise or MSME sector has enabled many women to improve the living standards of their respective families, invest in education, and contribute to their communities. These businesses are key to alleviating poverty and enhancing gender equality in Fiji.
I am pleased that Fiji is now more focussed on microfinance facilities. At the recent Fiji Development Bank's National Small and Medium Enterprise Awards, I noted the great strides SME has contributed to economic growth and employment. The Ministry of Trade, Cooperatives, Small and Medium Enterprises and Communications officially announced its intention to expand its mandate to include micro-enterprises in January 2024 and the inclusion of "micro" took place in August this year.
This addition aimed to enhance support for micro, small, and medium enterprises, acknowledging their critical role in the creation of employment and economic development. SPBD is very much a part of the micro-enterprise sector.
At the inaugural MSME Conference that was held in Fiji in March of this year, the Minister for Trade, Cooperatives, Small and Medium Enterprises and Communications, Honourable Minister Manoa Kamikamica, highlighted that his Ministry was working closely with consultants on developing the Micro, Small and Medium Enterprise Act, the Access to Capital Bill, and Fiji's first ever MSME Strategic Plan. I understand that SPBD was consulted on these matters.
The MSME sector contributes significantly to the national Gross Domestic Product, as well as employment generation. MSMEs account for approximately 18percent of Fiji's GDP and employs over 60percent of the workforce. This sector comprises about 82percent of registered businesses, emphasising its role in Fiji's economic structure. With over 30,000 registered MSMEs, the sector is seen as the backbone of the economy, driving growth, fostering innovation, and encouraging diversification, particularly in rural areas.
Ladies and Gentlemen, SPBD's journey began in Samoa in January 2000. Its regional expansion started with the establishment of SPBD Tonga in June 2009, followed by the launch of SPBD Fiji in December 2010. SPBD Solomon Islands commenced operations in November 2012. SPBD Vanuatu became the fifth country in the network to open in April 2017. We eagerly await the opening of the SPBD Kiribati office soon.
In Fiji, SPBD celebrates its 14th year of operations, with 10 branches established in Suva, Sigatoka, Savusavu, Lautoka, Rakiraki, Labasa, Taveuni, Levuka, Nabouwalu, and Nausori between the years 2010 to 2024. These branches serve more than 440 village-based women's groups, with a membership base of over 9,000 across the country. This sustained growth is impressive. We look forward to seeing even more branches and groups established throughout Fiji, particularly in the maritime areas where access to finance is even more crucial for women.
I wish to congratulate SPBD Fiji for reaching the remarkable milestone of FJ$100 million in loan disbursements this year. It is particularly heartening to know that our very own Fiji Development Bank partially funds this unprecedented accomplishment.
I recall, on 28th April 2018, in my capacity as Tui Macuata, I had opened SPBD's Labasa branch. The expansion was part of SPBD's initiative to empower women entrepreneurs in the North through microfinance. I understand that the Labasa office has now expanded to accommodate the growing needs of their women micro-entrepreneurs in the Macuata Province. That is an excellent achievement and, at the risk of sounding biased, I am pleased that my Province is well represented here tonight at the Vodafone Arena.
Again, I am pleased that SPBD is fully committed to empowering its members, especially women in rural and underserved communities, with business training, unsecured credit, and ongoing guidance to start and grow their small businesses. SPBD's continued partnerships and collaboration with stakeholders drives the organization's visibility in the public eye. This, in turn, creates a sense of inclusivity and ownership that is essential to your holistic growth.
To the executive management of SPBD, vinaka vakalevu for your commitment to creating opportunities for our women. Your support has opened doors and provided the resources needed for our women to shine. Together, we are building a more inclusive and prosperous Fiji, one that recognises and nurtures the talents and potential of every individual.
I acknowledge past winners of the SPBD Businesswoman of the Year Award. I hope that your achievement has been a source of inspiration.
To the finalists, tonight is your night. Congratulations! Your individual success stories are a consolidation of perseverance, determination, and hope. You are proof that with vision, hard work and the right support, anything is possible. The road to success is never easy, but you have shown us that when you are guided by purpose, you can overcome any obstacle. You are role models for the women and girls of Fiji, and your successful stories will inspire many to follow in your footsteps.
May you keep reaching for greater heights, knowing that you carry with you the pride of a nation that celebrates your accomplishments. May the awards you receive urge you to grow as individuals and professionally for a better quality of life and a better Fiji.
Vinaka Vakalevu, and may tonight's celebration be the beginning of even greater success stories for all of you.
May God bless you all and may God bless Fiji.