A request for proposal (RfP) has been issued for the design and development of Fiji’s inaugural peer-to-peer (P2P) lending platform targeting micro, small, and medium enterprises (MSMEs). The collaborative initiative involves 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). The RfP calls for qualified fintech companies, software developers, credit providers, and other relevant stakeholders, including consortia, to submit proposals aimed at creating a secure, scalable, and user-friendly lending platform.
At the launch event, Minister for Finance, Commerce and Business Development Esrom Immanuel emphasized the government’s commitment to fostering a resilient and innovative financial ecosystem that benefits MSMEs and supports Fiji’s economic growth. “We seek partners who share our vision,” he stated, inviting all eligible entities to obtain the RfP document.
RBF Governor Ariff Ali noted that the successful proposal will lead to the establishment and operation of the platform as an independent, commercially licensed financial intermediary in accordance with the Access to Business Funding Act 2025. He highlighted this initiative as a means to enhance Fiji’s financial sector and broaden funding opportunities for MSMEs.
Jeremy Cleaver, Financing Growth specialist at PSDI, pointed out the significant barriers many small businesses across the Pacific face concerning access to finance, which hampers innovation and growth. He expressed optimism that P2P lending could bridge this gap by connecting businesses with a broader array of investors and utilizing a digital platform to reduce costs and extend reach.
To facilitate the launch of the platform and ensure its sustainability, a startup support package will be provided through the Fiji Innovation Hub. This package will encompass financial backing, technical support, and participation in the Accelerator Program.
This P2P lending initiative is part of a broader strategy under the Access to Business Funding Act 2025, which aims to create multiple pathways for MSMEs to secure financing, including a Small Offers regime, P2P lending, and crowdfunding. The developments signal a promising shift towards enhancing financial inclusion and support for Fiji’s vibrant MSME sector, ultimately contributing to the nation’s economic resilience.
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