An innovation hub aimed at delivering financial technology (FinTech) solutions to address development challenges in Fiji is set to launch with the backing of the Reserve Bank of Fiji (RBF) and the United Nations Capital Development Fund (UNCDF) through the Pacific Digital Economy Program (PDEP). This initiative follows a joint scoping mission and validation workshop conducted with Creative HQ, New Zealand’s premier startup hub.
The newly established hub is envisioned as a center for fostering innovative solutions developed by local tech startups. With the goal of enhancing local capacities and supporting a dynamic entrepreneurial ecosystem focused on technology, it will build upon existing accelerator and incubation programs from both the government and private sectors.
RBF Governor Ariff Ali emphasized that the hub aims to facilitate collaboration among startups, regulators, private sector players, and potential investors. This collective effort is anticipated to yield technology-driven solutions that tackle Fiji’s pressing development challenges and foster economic growth. Ali highlighted that this initiative aligns with the bank’s vision of being a resilient and progressive financial institution contributing meaningfully to the economy.
Aneth Kasebele, a regional technical specialist with UNCDF, recognized the hub as an ideal platform that complements the RBF’s financial inclusion efforts, asserting that it would broaden Fiji’s financial landscape and provide diverse digital financial services—ranging from credit to insurance and wealth management—for all citizens.
Catherine Jones, CEO of Creative HQ, noted the potential for the innovation hub to drive economic transformation in Fiji by empowering rural communities, women, and youth while igniting FinTech innovation. She expressed optimism about nurturing the next generation of entrepreneurs through this undertaking.
The initial phase will concentrate on enhancing the current entrepreneurial ecosystem to support emerging FinTech startup founders, with plans to expand into other key technology areas—including female entrepreneurship and Agri-tech—after the second year. The hub’s formative activities, set to commence in May 2025, will involve collaboration with various partners to establish a physical location, host events, provide capacity-building opportunities, and create pathways for seed funding specific to the needs of micro, small, and medium enterprises (MSMEs).
This initiative, also backed by the European Union and the governments of Australia and New Zealand, symbolizes a significant commitment to fostering technology-led economic development in Fiji, which holds promise for a vibrant entrepreneurial future.
Such developments are crucial, especially in light of recent initiatives that have emphasized government support for MSMEs, including insights from the “Landscape Assessment of Accelerators & Incubators in Fiji” study. This collaborative approach to entrepreneurship has the potential to strengthen Fiji’s economy and inspire innovation.
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