BSP Financial Group Limited (BSP) has emphasised its commitment to champion the prosperity across the South Pacific region to improve financial accessibility at the Common CBF in Samoa.
Speaking at the forum as the Anchor Partner, the Group chief executive officer Mark T. Robinson, talked about the importance of expanding access to financial services to foster economic growth and sustainability at the Common CBF in Samoa.
“Access to finance is not just a necessity; it is a catalyst for innovation and growth. By improving financial accessibility, we unlock untapped potential within our economies.” Robinson remarked. He underscored how small businesses and individuals alike benefit from greater access to finance, enabling local development, improving women’s prosperity, and bolstering resilience against climate change impacts.
Robinson highlighted the pressing issues that hinder human capital development in emerging markets, especially in the South Pacific region. These include high levels of unemployment, underemployment, and skilled worker emigration, which trap people in the informal economy, limiting their access to essential services like financial systems, legal protections, and education.
Robinson also discussed the South Pacific region’s heavy reliance on remittances and commodity exports, which leaves economies vulnerable to external shocks like exchange rate fluctuations and rising public debt. Moreover, environmental degradation and climate change pose significant threats to the region’s economic stability.
Robinson reiterated BSP’s ongoing efforts to dismantle barriers preventing businesses and individuals from securing essential financing, which is key to unlocking long-term prosperity.
“At the heart of the ‘South Pacific way’ is enriching our communities, their lives, their financial wellbeing and our environment. BSP continues to promote economic growth and sustainability while investing in community development initiatives that improve access to financial services across the region.” Robinson further stated
The BSP headquarter is in Papua New Guinea with operations spanning Fiji, Cook Islands, Samoa, Tonga, Vanuatu, and the Solomon Islands.
