New lending path opens for MSMEs

Micro, small and medium enterprises (MSMEs) are expected to gain easier access to financing following the development of Fiji’s first peer-to-peer (P2P) lending platform.

The initiative follows the selection of ThirdRoc, a Fijian subsidiary of the Australian-headquartered fintech company, earlier this month to design and develop the platform.

The selection was made by the Ministry of Commerce and Business Development, the Reserve Bank of Fiji (RBF), and the Asian Development Bank’s Pacific Private Sector Development Initiative (PSDI) after a competitive request for proposals process issued through the Fiji Innovation Hub in January.

Minister for Finance, Commerce and Business Development and co-chair of the Access to Business Funding Implementation Taskforce, Esrom Immanuel, said the strong response to the proposal process reflected Fiji’s openness to innovation.

“This will help reduce some of the usual hurdles MSMEs face in accessing finance by connecting them directly with lenders through a secure digital platform,” Mr Immanuel said.

“We look forward to working with the selected partner, ThirdRoc, to expand financing opportunities for MSMEs.”

Reserve Bank of Fiji Governor and taskforce co-chair Ariff Ali welcomed the development, saying it would strengthen access to finance in Fiji.

“Fiji is leading the Pacific in opening new, innovative pathways to finance for businesses and the Reserve Bank of Fiji is commited to ensuring these pathways are developed with strong investor protections and sound risk management,” Mr Ali said.

“ThirdRoc’s proven technology, deep experience, and commitment to working within Fiji’s regulatory framework gives us confidence in their ability to deliver a platform that meets these standards.”

PSDI Financing Growth Specialist Jeremy Cleaver said the initiative had the potential to improve access to finance for underserved businesses.

“P2P lending has the potential to genuinely expand access to finance for MSMEs in Fiji, including those underserved by traditional channels, and we are excited to continue supporting this important new market as it takes shape,” Mr Cleaver said.

ThirdRoc will now enter a support phase through the Fiji Innovation Hub, including participation in a tailored accelerator programme featuring knowledge transfer and engagement with international P2P lending practitioners.

The accelerator phase is expected to deliver a launch-ready platform design by the third quarter of 2026, with pilot and rollout milestones to be confirmed later.

ThirdRoc director Shiv Maharaj said the company was working with local institutions and the RBF to ensure the platform was developed safely and suited to Fiji’s long-term needs.

“Since establishing our presence in Fiji, we have worked closely with partners to improve access to finance for MSMEs and entrepreneurs, while giving lenders and investors greater visibility and confidence in how credit is assessed and monitored,” Mr Maharaj said.