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Microfinance Sector’s Best Getting Awards From The RBF

The Reserve Bank of Fiji rewarded and recognised the best performers in the microfinance sector last night at the second National Microfinance Awards. The Awards are a joint initiative with
07 Nov 2014 11:29
Microfinance  Sector’s Best  Getting Awards  From The RBF

The Reserve Bank of Fiji rewarded and recognised the best performers in the microfinance sector last night at the second National Microfinance Awards.

The Awards are a joint initiative with the National Financial Inclusion Taskforce (NFIT) and recognise the important contribution of microfinance to financial inclusion and the economic empowerment of women in Fiji.

Following the official launch of the awards in June this year, 10 Microfinance Service Providers (MSPs) were approached to nominate their best clients for the Awards.

At the close of the three month nomination period, 22 applications were received from around Fiji and 60 per cent of these were from businesses run by women.

Governor Barry Whiteside said that whilst the majority of the applicants were from Viti Levu and Vanua Levu, it was pleasing to note that nominations were received from businesses in remote islands like Nayau, in the Lau Group and Rotuma.

Judging and selection
The judging and evaluation process of the microenterprises was based on a rigorous process.

This reviewed business growth, creativity and use of local resources, adequate record keeping, adaptability and sustainability and compliance to Government regulation.

In the Microfinance Service Provider category, assessment was based on financial performance, delivery channels and use of innovative technology, products and services and client protection.

Microfinance Entrepreneur – Individual category
-Winner: Miriama Tawalovo
– 1st Runner-up: Teresia Salote
– 2nd Runner-up: Suman Lata and Adi Vasemaca Kauvakarua

Microfinance Service Provider
-Winner: Fiji Council of Social Services
– 1st Runner up: South Pacific Business Development
– 2nd Runner up: Bank South Pacific and Westpac Fiji

Feedback: ranobab@fijisun.com.fj




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