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41st ADFIAP Annual Meeting and Conference Report

The Chief Executive Officer (CEO) of UTOS Sa’u Justina Sau Lam attended the 41st ADFIAP Annual Meeting and Conference Report that was held at the ITC Maurya Hotel in Delhi, India on the 19th – 21st February 2018. This was hosted by IDBI Limited, Export-Import Bank of India, National Bank of Agriculture and Rural Development, Entrepreneurship Development Institute of India, National Housing Bank and North Eastern Development Finance Corporation Ltd.

Benefits for UTOS

  • Cleantech Financing – this will involve a mixture of grant funding and private capital. Where private investors are able to earn a reasonable return while MSME will access low cost financing. There are clean and renewable energy funds that UTOS could access to support the creation such fund. The challenge from UTOS’s perspective would be its ability to access these international funds and Government support
  • Training opportunities – ADFIAP provide trainings for members. Most of its trainings are in Manila. The option for a training to be done in Samoa was discussed with the ADFIAP.
  • Awards – the awards provide recognition for institutions that are innovative and passionate in providing products and services that has a positive impact on the lives of the people and businesses.

Unit Trust of Samoa is a member of ADFIAP since 2017 and this is the second ADFIAP meeting. More than 180 participants from about 80 financial institutions who attended the meeting including the Samoa Housing Corporation’s CEO – Mrs Matautia Rula Levi.

Samoa Submarine Cable Company

The Samoa Submarine Cable Company (S.S.C.C) celebrated another significant achievement on the 28th of February 2018 with the ground breaking ceremony of its new South Pacific Submarine Cable Depot. Honourable Prime Minister, Tuilaepa, Cabinet Ministers, members of the diplomatic corporations and invited guests including CEO of the Unit Trust of Samoa Sa’u Justina Sau Lam attended this significant event that was held at the Matautu Wharf.

The new South Pacific Submarine Cable Depot costs $5 million tala. The new depot will benefit Samoa by providing employment and business opportunities, and more importantly it will provide a safe and secure storage for the new underground submarine cable.