A special gathering at the Orator Hotel marked a significant milestone in Samoa’s economic landscape as the Development Bank of Samoa (D.B.S.) celebrated its 50th anniversary on Friday evening. 

The event drew an impressive crowd of cabinet ministers, government officials, current and former employees, members of the business community, and representatives from the diplomatic corps, all coming together to honour a legacy of financial support and development in the nation.

Reverend Uele Uele of the Congregational Christian Church Samoa (C.C.C.S.) in Vaiala officiated the ceremony, reminding attendees of the importance of gratitude and community service. 

His heartfelt invocation set a reflective tone for the evening, echoing the sentiments of unity and purpose that underpin the bank’s mission.

Minister for Finance Lautimuia Uelese Va’ai delivered a powerful keynote address that traced the illustrious journey of D.B.S. since its inception in 1974.

He spoke on the bank’s critical role in fostering economic growth. He acknowledged the vision of D.B.S. as “the Bank for the Prosperity of Samoa,” reinforcing its foundational goal to uplift the lives of Samoans through financial empowerment.

Lautimuia paid tribute to the pioneers who laid the groundwork for D.B.S., recognising the hard work and dedication of former board members, CEOs, and staff who contributed to the bank's mission and illustrating the collective effort that has propelled the bank to its current stature.

Reflecting on the bank's mandate, the Minister highlighted its commitment to promoting the economic and social advancement of Samoa. “The Development Bank's mandate is to promote the development of the economy of Samoa,” he noted, underlining the importance of partnerships across public and private sectors to enhance access to finance. He expressed heartfelt gratitude to D.B.S.’s development partners, acknowledging their invaluable support throughout the years.

Despite the challenges faced by developing financial institutions globally, Lautimuia praised D.B.S. for its resilience. 

“D.B.S. has learnt to be resilient and has been able to navigate through challenges,” he remarked, commending the bank's prudent and innovative risk management strategies. This adaptability has allowed D.B.S. to continue serving the needs of its people effectively.

Since 2009, D.B.S. has played a pivotal role in government initiatives, including disaster relief and economic stimulus packages. 

As Samoa prepares to host the Commonwealth Heads of Government Meeting (C.H.O.G.M.) later this month, the bank, in collaboration with the Ministry of Finance, is actively supporting local businesses with financial assistance to ensure a successful showcase of Samoa on the international stage.

The Minister concluded his remarks by commending the leadership and dedication of the D.B.S. Chairperson, Board of Directors, CEO, management, and staff. 

“I look forward to witnessing further opportunities and initiatives by D.B.S. towards the promotion and expansion of Samoa's economy and social development.”

The event served as a reminder of the bank's enduring legacy and its commitment to the prosperity of Samoa for the next 50 years and beyond.