Fiji Development Bank Launches its Renowned SME Awards

Suva, Fiji. Today, the Fiji Development Bank (FDB) has launched its upcoming National Small & Medium Enterprise Awards (NSMEA) 2023. Held at their Suva Head Office, the NSMEA stands as the iconic annual event for the Bank.

FDB is committed to honouring the impact of SMEs to Fiji’s economy and by holding this annual awards event, the NSMEA serves as the sole platform nationwide, acknowledging and commemorating the accomplishments of these establishments.

At the launch, the keynote address was delivered by the Deputy Prime Minister and Minister for Finance, Strategic Planning, National Development and Statistics, Hon. Professor Biman Prasad.

The Hon. Minister said that, “We are very pleased to support the Fiji Development Bank and we value our partnership with FDB through co-financing various grant funding programs offered by the Ministry of Trade and Industry such as the Young Entrepreneurship Scheme.”

“FDB being a financial institution, plays a crucial role in the development of MSMEs in Fiji in providing financial assistance through various financial and innovative products in their portfolio,” he highlighted.

He further emphasized that, “In essence, MSMEs are not only key drivers of economic development but also economic diversification. As a government, we realize that economic diversification is very important.”   

The FDB CEO, Mr. Saud Minam noted that the SME sector contributes more than 16% to  Fiji’s GDP, and this year marks a decade since the Bank’s inception of these awards.

“As we launch the NSMEA 2023, we are reminded of the incredible impact SMEs have on our economy and communities. Their hard work, perseverance, and entrepreneurial spirit are the driving force behind our nation’s progress.”

He continued saying that, “We strongly encourage all eligible SMEs to submit their applications online for the awards. Who knows? Your dedication and efforts might just lead you to being honored with a prestigious FDB award.”

“Participating in this award offers businesses a unique chance to be recognized for all the good work you do. Moreover, for those who emerge as award winners, it serves as confirmation that their decision to embark on the challenging journey of entrepreneurship was indeed the right one,” he added.

FDB currently offers two SME packages that have provided invaluable assistance to countless expanding businesses: Small and Medium Business Loans & Small and Medium Enterprise Sustainability Package.