BSP country managers meet in Fiji, Fiji economy continues to grow

​Bank South Pacific (BSP) Country managers from Samoa, Cook Islands, Solomon Islands and Tonga met in Suva to work closely with BSP Fiji.

These countries are those that have acquired former Westpac business.

BSP Senior Manager Corporate Strategy Finance & Planning Mathew Hasu says so far the transition has been great.

“Fiji being relatively central to all the Pacific Islands it was seen as a place not just as an ease of convenience from a transportation perspective but for our country managers that have arrived from the newly acquired countries to see what we are able to do here in Fiji.”

BSP completed transaction of the acquisition of the former Westpac businesses on July 10th in Cook Islands, Tonga and Samoa to add onto their businesses in Fiji, Papua New Guinea and Solomon Islands.

BSP is currently working on getting the process finalised in Vanuatu.

Meanwhile, the Reserve Bank of Fiji (RBF) says strong sectoral outcomes and robust demand conditions are consistent with the 4.3 per cent growth projection for this year.

In its July review the RBF says the cane crushing season has commenced and improved timber and fish exports in the 1st month of this year confirms the current positive outlook for Fiji’s primary industries.

On the industrial front, high gold, electricity and woodchip production were recorded in the year to June.

RBF says buoyant investment activity so far this year provides further impetus to Fiji’s current growth outlook.

Last month the Fijian Dollar also strengthened against the New Zealand Dollar.

Inflation rose marginally to 0.8% in June a 0.2% increase when compared to May.