Participants representing various stakeholders at the Innovation Hub Awareness & Validation Workshop held at the Reserve Bank of Fiji on 05 March 2025.
The Reserve Bank of Fiji (RBF) in collaboration with the United Nations Capital Development Fund (UNCDF) Pacific Digital Economy Program (PDEP) is pleased to announce its support for the establishment of an Innovation Hub that will serve as a beacon for pioneering solutions by local tech startups.
This comes at the conclusion of a joint scoping mission and a validation workshop with Creative HQ – New Zealand’s leading startup hub and innovation agency, based in Wellington, with over 22 years of experience in delivering programmes nationally and abroad.
The initiative will leverage existing accelerator and incubation programmes and supporting structures across Government and the private sector with the aim of building local capacity to grow and sustain a thriving entrepreneurial ecosystem focused on technological innovation.
RBF Governor, Ariff Ali, remarked that the Innovation Hub aims to be a multi-year programme that will promote active collaboration between startups, regulators, the private sector and potential investors to reach technology-led solutions that can help solve Fiji’s development challenges and contribute to economic growth. This initiative aligns with the Bank’s new vision of being a Progressive and Resilient Central Bank, Trusted by our People and its mission of playing an influential role in the development of the economy.
UNCDF PDEP Regional Technical Specialist – DFS Policy and Regulation, Ms Aneth Kasebele, said “as a long-standing partner in financial inclusion, UNCDF believes that the Innovation Hub builds on the efforts of the RBF and other stakeholders to catalyse innovation across various financial sector verticals. This initiative will help diversify Fiji’s financial landscape and expand access to a wide range of digital financial products and services including credit, insurance, and wealth management, ensuring that all segments of the Fijian population can benefit. Moreover, RBF’s leadership in this initiative sends a strong signal to the market, demonstrating that the regulator understands the transformative potential of digital technology in the Fijian economy and is committed to engaging with innovators to foster growth. We extend our gratitude to the European Union, the Department of Foreign Affairs and Trade from the Government of Australia, and the Ministry of Foreign Affairs and Trade from the Government of New Zealand for supporting this initiative.”
Chief Executive Officer of Creative HQ, Catherine Jones highlighted that “what has been apparent through our conversations with all stakeholders is that an Innovation Hub in Fiji can flourish and reshape Fiji’s economic future, whether that can be through boosting rural livelihoods, empowering women and youth or igniting FinTech innovation. We are excited and look forward to realising the next generation of disrupters in this journey.”
The initial pilot will focus on building the current entrepreneurial ecosystem to support founder journeys, whilst simultaneously supporting the FinTech startup sector. It is envisaged that the Innovation Hub will then broaden its focus from Year 2 onwards to include other key tech sectors for economic growth such as female entrepreneurs, Agri-tech, and indigenous entrepreneurship.
Looking ahead, the RBF will continue to work collaboratively with all partners in mapping out the Hub’s activities for the first 12 months commencing from May 2025, including confirmation of a physical space, events, capacity building opportunities and a pathway for seed funding. This will be tailored to the needs of MSMEs while driving transformative change and inclusive growth across the economy.
RESERVE BANK OF FIJI
For further details, please contact: –
Communications Office
Telephone: (679) 3223 381 Email: info@rbf.gov.fj
Mr Mervin Singh – Manager Corporate Communications
Telephone: (679) 3223 229 Email: mervin@rbf.gov.fj
