Source: MINISTRY OF INFORMATION
Women are the driving force behind the small and micro enterprises (SME’s) sector and have been found to be more credit worthy, says the Reserve Bank of Fiji governor Barry Whiteside.
Speaking at the launch of the 2013 Fiji Development Bank’s Small Business Awards, which celebrates in 10th anniversary this year, Mr Whiteside said studies found that women were more likely than men to pay back their loans with interest.
“There is one micro-finance enterprise operating in Fiji, and I am sure across the region, that would lend to ladies for the very reason that women are more likely to pay back their loan with interest,” the RBF governor said.
“South Pacific Business Development currently has nearly 3900 lady clients in its Fijian micro loans portfolio and a repayment rate is in excess of 95 per cent.”
The FBD awards on November 14, 2013 will have seven categories: agriculture, tourism, wholesale and retail, professional and business services, manufacturing, a best business practice award and a special award.
Mr Whiteside said Government in the 2012 Budget introduced the SME Credit Guarantee Scheme with the aim of encouraging and supporting small and medium sized local businesses.
Reserve Bank of Fiji governor Barry Whiteside