The Fiji Development Bank (FDB) has launched the 2025 FDB National Small and Medium Enterprise Awards, unveiling new initiatives and fresh investment moves as it pushes to deepen support for micro, small and medium enterprises (MSMEs) across the country. Speaking at the launch, chief executive Filimone Waqabaca framed the awards under the theme “Ignite. Innovate. Inspire.” and set out the bank’s recent performance and plans to improve market access, inclusion and financial backing for entrepreneurs.
Waqabaca stressed the economic weight of MSMEs in Fiji, saying they employ about 60 percent of the workforce and contribute roughly 18 percent to national GDP. Drawing on the bank’s 2025 financial year figures, he said FDB directed 54 percent of its loan disbursements to rural areas (46 percent to urban), that MSMEs made up more than 90 percent of the bank’s portfolio accounts, and that nearly 30 percent of those MSME loans were held by women and 15 percent by youth. Over 80 percent of loans, he added, supported priority sectors such as agriculture, manufacturing, construction, transport and tourism.
The awards themselves are open to businesses at all stages — from startups to established enterprises — and are designed to recognise firms adopting new technologies, producing value-added products, improving sustainability and expanding into new markets. A significant addition this year is a Market Day initiative that will provide MSMEs with a public-facing platform to showcase and sell products directly to customers, aimed at improving visibility, customer engagement and market access alongside the awards’ recognition component.
In a notable development for the bank’s broader investment strategy, FDB announced it has taken full ownership of Tanoa Apartments in Votualevu, Nadi. Waqabaca said the acquisition is intended to strengthen the bank’s asset base, diversify its investment portfolio and support Fiji’s hospitality and tourism sector, with the returns expected to be reinvested into national development priorities.
The bank also confirmed an extension of its previously announced $1,000 unsecured Women Entrepreneur Loan. The pre‑approved facility — introduced around International Women’s Day earlier this year — was made available to new women vendor applicants who were present at the awards launch and may have missed prior application rounds, subject to standard credit assessment. The move reinforces FDB’s stated focus on female entrepreneurship within the MSME sector.
FDB urged SMEs across Fiji to apply for the 2025 awards, framing the programme as an opportunity to gain national recognition, connect with partners and help shape the country’s economic future. Waqabaca acknowledged continued collaboration with key stakeholders, including the Reserve Bank of Fiji, the government, the Ministry of Commerce and Business Development, and development partners, as central to strengthening Fiji’s SME ecosystem. Applications details and timelines for the awards were not specified at the launch.