Fiji is set to launch its first licensed peer-to-peer lending platform aimed at supporting micro, small, and medium enterprises (MSMEs). The initiative, which seeks to streamline access to finance for these businesses, is a collaboration between the Ministry of Commerce and Business Development, the Reserve Bank of Fiji, and the Asian Development Bank’s Pacific Private Sector Development Initiative.
To bring this digital system to life, a Request for Proposals has been issued. This platform will connect businesses directly with lenders, promising to reduce costs and turnaround times when compared to traditional financing options. This effort is reinforced by the Access to Business Funding Act 2025, which is designed to create innovative pathways for MSMEs to secure funding.
The government is inviting fintech companies, software developers, and credit providers to submit proposals for a platform that is secure, scalable, and user-friendly. Minister for Finance, Commerce and Business Development, Esrom Immanuel, emphasized the importance of partnering with organizations that share a vision for a resilient and inclusive financial ecosystem, highlighting the initiative’s goal to bolster Fiji’s economy while delivering tangible benefits to MSMEs.
Reserve Bank Governor Ariff Ali described this initiative as a unique opportunity for market participants to influence and enhance Fiji’s financial landscape. The successful bidder will function as an independent, fully commercial financial intermediary, fully licensed under the Access to Business Funding Act.
Jeremy Cleaver, a Financing Growth Specialist with the Pacific Private Sector Development Initiative, pointed out that peer-to-peer lending is essential for addressing financing gaps faced by small businesses throughout the Pacific. He noted that such digital platforms can broaden investor reach, decrease costs, and make funding more accessible to those in need.
To further support the platform’s launch, the Fiji Innovation Hub will offer a startup package that includes financial assistance, technical support, and opportunities for involvement in its Accelerator Program. The Reserve Bank is specifically looking for applicants who possess robust technical skills, strong governance, and a well-defined commercial strategy, as well as a commitment to collaborate with regulators to foster a secure and sustainable peer-to-peer lending market.
Proposals for this significant development are due by March 13, with detailed eligibility and submission requirements available from the Ministry of Commerce and Business Development. This project signifies a critical step forward for the Pacific region, fostering a more inclusive and supportive financial environment for small businesses in Fiji.