Fiji is preparing to introduce its first officially licensed peer-to-peer (P2P) lending platform aimed at enhancing financial access for micro, small, and medium enterprises (MSMEs). This initiative marks a significant collaboration among the Ministry of Commerce and Business Development, the Reserve Bank of Fiji, and the Asian Development Bank’s Pacific Private Sector Development Initiative, all embarking on a mission to streamline financing pathways for local businesses.
To initiate the digital platform’s development, a Request for Proposals (RFP) has been issued. This new system is designed to connect businesses directly with lenders, offering a cost-effective and efficient alternative to conventional financing methods. The project is further supported by the Access to Business Funding Act 2025, which aims to innovate funding solutions for MSMEs.
The Fijian government is encouraging fintech providers, software developers, and credit institutions to submit their proposals for a platform that is not only secure and scalable but also user-friendly. Minister for Finance, Commerce and Business Development, Esrom Immanuel, underscored the importance of collaborating with entities that envision a resilient and inclusive financial ecosystem, emphasizing the initiative’s objective to strengthen Fiji’s economy while delivering practical advantages to MSMEs.
Governor of the Reserve Bank, Ariff Ali, highlighted the initiative as a pivotal moment for market participants to shape and elevate Fiji’s financial landscape. The chosen candidate will act as an independent and fully licensed financial intermediary under the Access to Business Funding Act.
Jeremy Cleaver, a Financing Growth Specialist from the Pacific Private Sector Development Initiative, noted that P2P lending is crucial in overcoming financing hurdles faced by small businesses across the Pacific. He emphasized that digital platforms could extend investor reach, lower costs, and enhance accessibility to necessary funding.
In anticipation of the platform launch, the Fiji Innovation Hub is set to provide a startup package that will include financial assistance, technical support, and participation opportunities within its Accelerator Program. The Reserve Bank is particularly looking for applicants who can demonstrate strong technical expertise, sound governance, a clear commercial strategy, and a commitment to collaborate with regulators to nurture a secure and sustainable P2P lending market.
Proposals for this influential project are to be submitted by March 13, with thorough eligibility and submission details available from the Ministry of Commerce and Business Development. This initiative represents a transformative milestone for the Pacific region, aimed at fostering an inclusive and supportive financial ecosystem for small businesses in Fiji.