The Fiji Development Bank Hosts its Annual National SME Awards

Suva, Fiji – 8^th of August 2024, the Fiji Development Bank (FDB) held its annual National SME Awards for 2023 at the Grand Pacific Hotel. This prestigious event recognises and celebrates the Micro, Small and Medium Enterprises (MSMEs) sector in Fiji, especially those who have applied to FDB’s annual awards and have emerged as winners in either one of the eight award categories.

His Excellency, Ratu Wiliame Maivalili Katonivere, the President of the Republic of Fiji, was the Chief Guest along with the First Lady, Madam Filomena Katonivere. In his opening remarks, His Excellency said that, “MSMEs are the backbone of our economy. They are the dreamers and the doers, the risk-takers who play an essential role and create the foundations of our economic prosperity. It is their tireless efforts and unwavering determination that drive our nation forward.”

“In the face of adversity, our MSMEs have demonstrated resilience and adaptability. Our MSMEs embraced innovation and digital transformation to survive. This spirit of determination is what makes our MSMEs truly exceptional,” he continued.

In front of an enthusiastic and highly supportive audience along with an impressive media contingent in attendance, the event recognized the efforts and achievements of not only the winners but all the businesses that took great effort in making their submission.

His Excellency further stated that, “despite their success, we must also acknowledge the challenges that our MSMEs face, from accessing markets and developing skills to improving infrastructure. You’ve been told ‘no’  more often than ‘yes.’ But you beat the odds and are an inspiration.”

“You may have encountered losses, but tonight we celebrate you for the times that you picked yourselves up, dusted yourselves off, and continued with strong determination. You are our friends, neighbours, and family. You show us what we are capable of, individually,” he added.

130 people attended the event comprising of distinguished guests, permanent secretaries, and other invited guests.

Small businesses, whether they are shops, farms, or tourism services, contribute a significant 18% to Fiji’s economic output and employ 60% of Fiji’s workforce.

In 2023, FDB disbursed $40 million to the MSME sector, demonstrating its commitment to our nation’s progress. FDB’s work extends beyond financial support; they provide financial literacy training workshops and educational programs, particularly for women entrepreneurs.

FDB’s Acting Chief Executive Officer, Ms. Titilia Vakaoca, said that, “Not just the award winners of the event, but all the applicants, should feel both proud and highly encouraged that their businesses were not only validated but also recognised for their achievements.”

Acknowledging the auspicious event, she highlighted that, “We pay homage to our hardworking SMEs for their unyielding contributions to Fiji’s development.”

The following businesses were the 8 award winners in their respective categories:

1. Best Agri-Business SME of the Year – Avish Poultry Farm
2. Best Maritime SME of the Year – Saunitoga Enterprise Pte Ltd
3. Emerging Entrepreneur of the Year – Ledua’s Art Collection
4. Youth Entrepreneur of the Year – Futuristic Farm
5. Best Businessperson of the Year – Essence Group Fiji Ltd
6. Best Cooperative SME of the Year – Tavoro Forest Park Co-Operative Limited
7. Woman Entrepreneur of the Year – The House of Beauty
8. Sustainable SME of the Year – Star Hospitality Company Pte Limited
9. With the overall winner of the National SME of the Year being Essence Group Fiji Ltd

Sponsors and Partners of the event included the Ministry of Trade, Co-operatives, Small and Medium Enterprises and Communications; the Reserve Bank of Fiji; the Fiji Commerce & Employers Federation; Vodafone Fiji; Tower Insurance; Digicel Pacific; Sun Insurance; Fiji Water; C & C Solutions; J. Hunter Pearls, Grand Pacific Hotel and Vision Investments Ltd.