The Nadroga Navosa Chamber of Commerce and Industry (NNCCI) has heralded the opening of BRED Bank’s new branch in Sigatoka as a significant advancement for the local economy. NNCCI President Suresh Naidu stated that the bank’s establishment in the region enhances economic diversification and improves access to crucial financial services, particularly benefiting small and medium enterprises, along with the agricultural sector.
The Chamber perceives the launch of the Sigatoka branch as an affirmation of confidence in the area’s growth and economic resilience. Mr. Naidu underscored the necessity of competition in the banking landscape, asserting that a new entrant like BRED Bank is likely to elevate service quality and stimulate more competitive offerings for local businesses.
Another notable aspect of this new branch is its convenience for farmers and rural producers situated across Nadroga–Navosa. With the branch now operational, these farmers will no longer have to undertake lengthy trips or depend on limited banking hours to manage their finances after selling produce at the Sigatoka Market.
Mr. Naidu also emphasized the need for regulated financing solutions within the agricultural sector, advocating for access to loans for purchasing farm machinery, climate-resilient seeds, and land development initiatives. The Chamber recognizes BRED Bank as a potential ally in enhancing financial literacy, assisting farmers in moving away from cash-based transactions towards digital savings and better long-term financial planning.
Reflecting on the past year, Mr. Naidu noted the remarkable resilience displayed by the local economy, from bustling activity in Sigatoka Town to the thriving resorts along the Coral Coast. He affirmed the Chamber’s ongoing commitment to serve as a supportive voice and partner in economic growth for the community. This development indicates a hopeful future, fostering greater accessibility to financial resources and aiding in the sustainable progress of local enterprises.