SPBD opens 10th branch in Nausori

SPBD opens 10th branch in Nausori

By Navitalai Naivalurua
Monday 24/06/2024

Going down to Suva to do payments, fill in forms and applications will be a thing of the past for members of the South Pacific Business Development Microfinance Pte (Fiji) Ltd after it opened its 10th branch in Nausori Town.

SPBD Director and General Manager Elrico Munoz says the new Nausori Branch will serve primarily the Tailevu Province, providing essential financial services and business development opportunities to women in the area.

He says SPBD already has a thriving presence in the province - currently boasting a loan portfolio of $1.5 million and serving 962 women micro-entrepreneurs organized in 56 village-based groups meeting weekly.

Munoz says this new branch builds on this robust foundation, ensuring even greater access to financial resources and support for women entrepreneurs.

He adds by the end of this year, in just six months, they aim to empower additional 500 women to start or expand their businesses and also disburse an additional $2.2 million in unsecured loans to new and existing SPBD members.

The General Manager says SPBD’s mission is to improve the quality of life of underprivileged families by providing them with meaningful economic opportunities to help lift them permanently out of poverty.

Munoz says they are especially focused on empowering women to start, grow, and maintain micro businesses through access to financial and business development services and this will enables them to build assets, improve financial security, and finance housing improvements and education. He says their key services to empower women include organizing them into village-based groups, providing continuous financial education, and offering easy access to unsecured loans, savings facilities, death benefits, and business development services.

He adds since their establishment in Fiji in December 2010, SPBD has reached over 20,000 women and provided them with more than $100 million in unsecured loans over the past 13 years.

He further adds that currently, they serve more than 7,000 women in 438 villages through their branches in Suva, Sigatoka, Lautoka, Rakiraki, Levuka, Nabouwalu, Savusavu, and Taveuni.

SPBD Network Founder and President Greg Casagrande acknowledges the hard work of their staff in Fiji that enabled them to open another of their branch.

Credit Corp Fiji Care
Credit Corp Fiji Care
FEATURE NEWS
AIDS related deaths increase from 49 in 2022 to 82 in 2023
The issue of HIV/AIDS continues to rise as shocking statistics revealed by the UNDP, highlighted the increase of AIDS related deaths with 49 in 2022 a...
10 hours ago
LATEST NEWS
Professor Baba was revolutionary, not only in education but in politics and public life - Prof. Shameem
The late Professor Tupeni Baba was a giant of an intellect and this is what made him stand out among the academics not only in Fiji and the Pacific ...
6 hours ago

MOE exploring the use of test-kits in school - Radrodro
Minister for Education Aseri Radrodro says the Ministry is exploring some initiatives, such as having drug test kits in schools to counter the ...
10 hours ago

22,800 MSME's are paying about $59m taxes annually - FRCS CEO
There are about 117,000 Micro, Small and Medium businesses in Fiji out of which around 22,800 businesses are paying taxes amounting to around $59 ...
10 hours ago

Upgraded farm Road in Natawa village will boost agricultural efficiency
Farmers and residents of Natawa Village in Vaturu, located in the highlands of Ba, are set to benefit from the recent upgrade of their farm road that ...
11 hours ago

Upgraded farm Road in Natawa village will boost agricultural efficiency
Farmers and residents of Natawa Village in Vaturu, located in the highlands of Ba, are set to benefit from the recent upgrade of their farm road that ...
12 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
yb
IN DEPTH
2024-2025 National Budget address by the Minister for Finance
2024-2025 National Budget address by the Minister for Finance Prof. Biman Prasad. 2024-2025 Budget ...
12 days ago

Crisis within FijiFirst that led to its deregistration
The FijiFirst Party has been de-registered by the Registrar of Political Parties, Ana Mataiciwa. This is the end of the party that led government ...
16 days ago

Pre-Budget 2024-2025
Pre Budget 2024-2025 budget recommendations and an insight of what people on the ground wish to see in the National Budget
22 days ago

TOP