Written By : CAROLINE RATUCADRA. Savusavu hosted the first maritime microfinance expo, which was organised by the Reserve Bank of Fiji (RBF) on Monday.
The expo, which was held at the town’s foreshore ground, featured various organisations from the commercial banks, financial institutions, non-bank financial institutions, investment agencies, government departments, mobile networks and micro-enterprises.
Speaking at the exposition, the Ministry of Finance Permanent Secretary Filimone Waqabaca said the intentions of the expo was to raise awareness and promote greater financial inclusion in Fiji.
“Microfinance is believed to be a means of improving the lives of people, especially in tackling poverty,” Mr Waqabaca said.
“This one-day expo aims to improve the livelihood of the rural and unbanked sectors of Fiji’s population.
“Microfinance is not only about loans. It includes savings, payments, micro insurance services and capacity building of clients.
At the end of the expo, Mr Waqabaca hopes that the communities would be better informed about the financial and payments services that are available with our institutions.
“Last year the RBF, in partnership with stakeholders, hosted three microfinance expos in Ba, Suva and Labasa,” he said.
This time they opened the exposition with the first maritime islands microfinance expositions starting in Savusavu.
The theme is ‘Microfinance – reaching out and developing communities’.
“It is pleasing to see that some of our stakeholders have been quick to introduce their microfinance programmes,” he said.
“We hope that these new services and propducts will make financial services more accessible and affordable.”
Taveuni hosted one expo on Tuesday, Koro on Wednesday, Gau on Thursday and Levuka yesterday.