SOUTH Pacific Business Development (SPBD) officially opened its Auki branch on Thursday, expanding its microfinance services to women and small business operators in Malaita Province.
The official opening was attended by women leaders, representatives from business houses, Malaita Provincial Government officials and Malaita Province Deputy Premier Randol Sifoni, who was the guest of honour.
SPBD is a microfinance network that provides financial services, training and support to help women in rural and underserved Pacific Island communities start and grow micro-businesses.
SPBD General Manager Raymon McCarthy said Auki is the organisation’s fourth branch since it began operating in Solomon Islands in 2012.
Since then, SPBD has disbursed thousands of individual loans to its customers.
Mr. McCarthy said behind those loans were women who had started and expanded small businesses, including shops, farms, fishing activities, food production, sewing and handicraft businesses.
“When we say loans, I don’t want you to see only the number. I want you to see the women and families behind it. Our main product remains the micro-enterprise loan, which helps women start an income-generating business,” Mr. McCarthy said.
He said SPBD offered more than micro-enterprise loans, including education loans, seasonal workers’ loans and solar energy loans.
The organisation also offers savings services, encouraging members not only to borrow but also to develop the habit of saving and strengthen their financial security.
Mr. McCarthy said SPBD did not simply give money away, but provided loans as a tool to help women build sustainable businesses.
“The loan is just a tool. What the woman does with that tool is where the real impact happens. And as we grow, the way we serve our members must also improve. The opening of SPBD Auki comes at an exciting time,” he said.
Malaita Province Deputy Premier Randol Sifoni said the opening of the SPBD office in Auki demonstrated confidence in the people of Malaita and recognised the important role women play in the province’s economic development.
He said the opening marked the beginning of new opportunities, partnerships and possibilities for hundreds of women and families throughout Malaita
“Women are the backbones of our communities. They are mothers, caregivers, farmers, market vendors, small business operators and community leaders across our province. Women work tirelessly every day to support their families and contribute to their local economic activities,” Mr. Sifoni said.
However, he said many women continued to face challenges in accessing financial services, business capital and opportunities to grow their enterprises.
“One of the greatest barriers to economic empowerment has been limited access to finance. Many women possess the skill, determination and business ideas needed to succeed, but often lack the capital required to start or expand their businesses,” Mr Sifoni said.
He said through its microfinance programme, SPBD provided opportunities for women to access loans that could be invested in productive economic activities.
These included market vending, agriculture, fisheries, retail trade, handicrafts, food production and other income-generating ventures.
“Such opportunities enable women to improve their household incomes, invest in their children’s education, strengthen family well-being and contribute to local economic growth. The concept behind microfinance is simple but powerful. It is based on trust, responsibility, discipline and mutual support,” Mr Sifoni said.
Reprinted from: https://www.solomonstarnews.com/spbd-expands-services-to-malaita/
