Filimone Waqabaca has officially taken over as the new Chief Executive Officer (CEO) of the Fiji Development Bank (FDB), following an orientation held at the bank’s Suva headquarters this week. FDB Board Chair, Damend Gounder, highlighted the critical role FDB plays in Fiji’s financial landscape, suggesting that the bank’s embrace of innovative ideas will be vital for its future success. Gounder also expressed gratitude to the executive team and Acting CEO Titilia Vakaoca Kamil for their leadership during the six-month search for Waqabaca’s successor.

In his inaugural address, Waqabaca articulated a vision for FDB to become a pivotal institution promoting development, encouraging the bank to support aspiring entrepreneurs and individuals seeking to improve their lives. He emphasized the importance of collaboration among staff and board members to achieve the bank’s strategic objectives, aiming to make FDB an employer of choice for recent graduates by fostering a positive workplace culture that aligns with the bank’s values.

Waqabaca brings over thirty years of extensive experience in the financial sector, having previously held significant positions at the Reserve Bank of Fiji and the International Monetary Fund, alongside academic credentials including a Bachelor’s in Management and Economics from the University of the South Pacific and a Master’s in International Banking and Financial Studies from the University of Southampton. This background positions him well to lead FDB through its next phase of growth and development.

The transition in leadership is met with optimism regarding Waqabaca’s potential to implement forward-thinking solutions and drive economic growth in Fiji. His previous experiences and fresh perspectives could significantly enhance FDB’s role in promoting entrepreneurship and supporting community initiatives, paving the way for greater economic stability throughout the region. Waqabaca’s leadership promises a transformative journey for the Fiji Development Bank and its contributions to the community it serves.