BSP Microfinance Senior Manager Isikeli Taoi.

Bank South Pacific has opened a total of 120,000 accounts in rural areas under its Microfinance programme.

BSP is providing financial support services to small income households and individuals in the informal sector.

Microfinance Senior Manager Isikeli Taoi says they have seen an increase in uptake from farmers, women in business, youths and other commercial groups.

“We are targeting farmers that are able to save and we have products where they can do their saving. We teach them what to do, priorities, increase productivity. Only when they increase productivity then they can do their budget and save. Otherwise people will just open accounts and close it again, those are some challenges that we face in the first place.”

Taoi says the programme primarily teaches customers the benefits or saving and how to save.

Target groups include fish vendors on street markets, market vendors, village canteens and farmers who have the capability to generate income.