Fiji launches first peer-to-peer lending platform to support small businesses

For thousands of small business owners in Fiji who have struggled to secure loans, today marks a new beginning.

The Fiji Government has officially launched a Request for Proposal (RFP) for the country’s first peer-to-peer lending platform, aimed at providing micro, small, and medium enterprises (MSMEs) with better access to finance.

Minister for Finance Esrom Immanuel says the platform will benefit everyday Fijians, including market vendors, small traders, and entrepreneurs, who often operate outside the formal banking system but play a crucial role in the economy.

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He explains that the peer-to-peer lending platform, a form of crowdfunding, will allow individuals and investors to lend directly to MSMEs through a regulated digital platform.

This initiative builds on the Access to Business Funding Act 2025, which takes effect from December 1, 2025, creating Fiji’s first national peer-to-peer lending ecosystem.

The RFP invites qualified fintech firms, financial institutions, and consortiums to design, develop, and deploy the platform.

Minister Immanuel says the project will be executed through the Fiji Innovation Hub in collaboration with the Reserve Bank of Fiji, the Ministry of Commerce and Business Development, and partners such as Mastercard, HFC, and HFC Bank.

Successful applicants will receive grant funding from the Pacific Private Sector Development Initiative and support through a nine-week Accelerator Programme led by Creative Rescue, a New Zealand-based innovation hub.

Minister Immanuel emphasizes that this initiative will provide fairer opportunities for MSMEs and help build a more resilient, inclusive Fijian economy.

Reserve Bank of Fiji Governor Ariff Ali welcomes the initiative, saying it provides a new pathway for small businesses to access finance through the first peer-to-peer lending platform, also known as crowdfunding.

Governor Ali says SMEs are key to Fiji’s economic future, sitting at the crossroads of jobs, inclusion, resilience, and growth.

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He points to the SME Strategic Plan, launched last year, which aims to significantly boost the contribution of SMEs to Fiji’s economy by 2030. The peer-to-peer lending platform is a key part of this plan.

Governor Ali highlights that the Access to Business Funding Act 2025 aligns Fiji with international best practices, following similar laws in many countries that have improved access to finance for small businesses.

He clarifies that peer-to-peer lending does not compete with banks but complements the traditional financial system by offering more options for businesses that find it difficult to access regular loans.

Governor Ali acknowledges that access to finance remains one of the biggest challenges facing MSMEs. He added that the new platform is designed to help bridge that gap.

The RFP for the platform opened today and will remain open for seven weeks, closing in mid-March, with a decision on the successful applicant expected by March 27.

Governor Ali describes the initiative as a major milestone for Fiji, saying that while large corporations have long had access to capital markets, this new platform will provide a fundraising avenue for smaller businesses.

Once operational, the platform is expected to strengthen Fiji’s MSME sector, increase financial inclusion, and help build a more resilient and inclusive economy.