FDB Launches 2025 National SME Awards to Celebrate Innovation and Enterprise

Suva – The Fiji Development Bank (FDB) has officially launched the 2025 National SME Awards, reaffirming its commitment to supporting inclusive and sustainable economic growth across Fiji by empowering micro, small, and medium enterprises (MSMEs).

Speaking at the launch, the FDB Chief Executive Officer Filimone Waqabaca, highlighted the critical role MSMEs play in the national economy, describing them as the backbone of Fiji’s development, drivers of innovation, and lifeblood of communities.

“Today, we gather not only to recognise excellence, but to celebrate the spirit of enterprise that continues to shape our nation. MSMEs represent the diversity, resilience, and potential of Fiji—from farmers and agri-processors to tourism operators, manufacturers, and digital entrepreneurs,” the CEO said.

SMEs employ approximately 60 percent of Fiji’s workforce and contribute around 18 percent to the country’s GDP.

FDB acknowledged the ongoing support and collaboration of key stakeholders, including the Reserve Bank of Fiji, the Fiji Government, the Ministry of Commerce and Business Development, and various development partners in strengthening the SME ecosystem.

The bank reported significant contributions to MSME growth in its 2025 financial year. Fifty-four percent of loan disbursements were directed to rural areas, with 46 percent in urban areas. MSMEs accounted for more than 90 percent of total portfolio accounts, with nearly 30 percent held by women and 15 percent by youth. Over 80 percent of loans supported priority sectors such as agriculture, manufacturing, construction, transport, and tourism, contributing directly to job creation and economic resilience across the country.

The 2025 theme, “Ignite. Innovate. Inspire.”, reflects both the journey of SMEs and the vision for Fiji’s future. The Awards are open to businesses at all stages—from early startups to established enterprises.

“In today’s rapidly evolving environment, innovation is no longer optional. Through these Awards, we aim to highlight businesses adopting new technologies, creating value-added products, improving sustainability, and expanding into new markets,” the CEO added.

A key addition to this year’s programme is the introduction of a Market Day initiative, providing MSMEs with a platform to showcase and sell their products directly to the public. This initiative is designed to enhance visibility, customer engagement, and market access, complementing the recognition aspect of the Awards.

Adding to the experience, our partner FMF EV showcased a diverse range of electric vehicles, highlighting innovative and sustainable transport solutions.

FDB also announced a significant milestone investment with the full ownership of Tanoa Apartments in Votualevu, Nadi. This move reflects the Bank’s strategy to strengthen its asset base, diversify its investment portfolio, and support the growth of Fiji’s hospitality and tourism sector.

“This investment demonstrates confidence in one of Fiji’s key economic drivers and positions the Bank to generate stable returns that can be reinvested into national development priorities,” the CEO stated.

Aligned with the International Women’s FDB Market Day announcement made earlier this year regarding the pre-approved $1,000 unsecured Women Entrepreneur Loan, the Bank extended this opportunity to new women entrepreneur vendors present today who may have missed out previously, subject to the Bank’s standard credit assessment, to further support their business ventures.

FDB is encouraging all SMEs across Fiji to apply for the FDB 2025 National SME Awards.

“This is an opportunity to showcase achievements, gain national recognition, connect with partners, and contribute to shaping Fiji’s economic future,” the CEO said.

The Bank extends its heartfelt appreciation to its valued partners and sponsors—the Ministry of Commerce and Business Development, Reserve Bank of Fiji, Vodafone Fiji, and Tower Insurance—for their continued support.

“Let us use this platform to ignite ambition, drive innovation, and inspire excellence across our MSME sector. Together, we can unlock the full potential of SMEs and build a more resilient and prosperous Fiji,” said Mr Waqabaca.