Canada’s Super Moms President Always Ready to Help
Elrico Munoz, director and general manager for South Pacific Business Development (SPBD) Microfinance (Fiji) Pte Ltd. ‘Blending my professional and personal commitments allows me to make progress towards both my work and personal goals every day.’
Born in the Philippines, Elrico Munoz now calls Fiji, home.
Mr Munoz is the director and general manager for South Pacific Business De-velopment (SPBD) Microfinance (Fiji) Pte Ltd.
He has more than 25 years of diverse experience in the microfinance space, and he has been managing SPBD Fiji for more than eight years.
He has worked in other Pacific Island Countries like Vanuatu, Samoa, and Tonga.
He holds a Master’s Degree in Business Management and a Bachelor’s Degree in Social Sciences majoring Psychology from the University of the Philippines.
He studied cooperatives in Israel and attended the Executive Programme from Wharton School of Business, United States of America. He also finished the online Expertise Programme in Small and mediumsized enterprises (SME) Financing from Frankfurt School of Business in Germany.
For the past 11 years, Mr Munoz has been working in Fiji and three years ago he became a Fijian citizen.
Mr Munoz is married with two children.
Can you tell us about your business and its background and your experience so far?
South Pacific Business Development (SPBD) Microfinance (Fiji) Pte Ltd. is part of a multinational microfinance company with operations in Samoa, Tonga, Fiji, Solomon Islands, and Vanuatu. The company aims to economically empower women, particularly those in rural areas, through continuous financial education, village-based community organization, financial services such as savings, loans, and death benefits, and connecting them to other institutions to help them grow their businesses. We believe that through economic empowerment, these women can become more self-confident, financially independent, and able to improve their living conditions and provide education for their children.
How do you manage the demands of professional and personal commitments?
Blending my professional and personal commitments allows me to make progress towards both my work and personal goals every day. When I try to separate my professional and personal life, I often find myself facing dilemmas that can be stressful. Instead, by treating them as interconnected, I am able to move forward in a more cohesive and fulfilling way.
What is the most rewarding thing about your current job?
One of the most rewarding aspects of my job is seeing my clients improve their standard of living and self-confidence over time. Even if I am only able to help one person improve their life and outlook, it is deeply fulfilling for me. Watching my clients grow and succeed brings me a great sense of satisfaction and purpose.
What is your philosophy about business as a whole and your vision for your businesses?
In order to be successful in the long term, a business should first and foremost focus on fulfilling a need in the community and serving that need in an ethical, effective, and efficient manner. By prioritizing the needs of the community and conducting business in a responsible way, a company can build customer loyalty and ultimately achieve profits.
What have been some of the highlights of your career so far?
I have had the opportunity to visit various countries and also to experience life in the rural villages of Fiji. Through my travels, I have had the chance to meet a diverse range of people and form friendships. These
experiences and memories are truly invaluable, and I am grateful for the career path that has allowed me to have them.
Have you been inspired or influenced by anyone in particular?
Nelson Mandela was a great inspiration for me in my twenties, and his book “The Long Walk to Freedom” helped me to clarify my direction in life, including what career I wanted to pursue. His words and actions continue to inspire and guide me as I navigate through life.
How would you describe yourself as a leader?
I believe in practicing servant-leadership, which involves respecting and empowering others while also being responsible for correcting mistakes and motivating team members to push beyond their comfort zones. I also prioritize bottom-up planning, ensuring that everyone is invested in and owns the goals and targets that we set each year. This approach helps to create a sense of shared purpose and ensures that all team members feel valued and in-cluded.
What impact has COVID-19 pandemic had on your professional and per-sonal life?
The COVID-19 pandemic has reinforced my belief that nothing in this world is certain. Even with the best plans and resources, things may not go as expected. It is important to remain flexible and optimistic in the face of adversity. When things go really bad, like during a pandemic, it is crucial to learn how to adapt and find new ways of looking at the horizon and doing things. This helps to navigate difficult situations and come out stronger on the other side.
What are some of the challenges faced by the industry?
Microfinance in the Pacific region is a challenging industry due to the lack of favourable conditions for success such as high population density, cash economy, good infrastructure, and an inclusive regulatory environment. However, the unique geography and socio-cultural norms of the region can be taken into consideration to adapt microfinance operations to the local context. Despite these challenges, SPBD has achieved success in the five countries in which it operates.