Merchant Finance Limited’s commitment to gender empowerment has been strengthened with the launch of its Marama Finance initiative, aimed specifically at enhancing financing opportunities for women-owned micro, small, and medium enterprises (MSMEs) in Fiji. At a recent event titled “Gender Champions and Ringing the Bell for Gender Equality” held in Suva, Marama Finance manager Laisani Rokoderea shared insights about the bank’s systemic approach to integrating gender equity into its operations.
Rokoderea emphasized that Merchant Finance’s journey began with thorough research identifying that women-led MSMEs in Fiji often struggle with access to financial resources. She stated, “We ran the numbers, did our due diligence, and once we were confident our internal gender policies were solid, we turned our focus outward.” This analysis highlighted a critical gap in the market, leading to the creation of Marama Finance, an all-female team dedicated to supporting female entrepreneurs.
This new initiative is not just about offering financial products; it represents a significant institutional commitment to gender empowerment within the financial sector. The importance of women’s representation in decision-making processes has also been prioritized, with the head of Marama Finance included in the bank’s executive management team.
Merchant Finance aims to trademark the Marama Finance brand, solidifying its objectives and demonstrating its long-term commitment to promoting women in business. Rokoderea projected a hopeful future, stating, “One of our key long-term goals is to cultivate and support the next generation of highly successful women-owned businesses, with the vision of developing future millionaire women entrepreneurs over the next decade.”
This initiative echoes previous efforts highlighted in similar articles, particularly Merchant Finance’s collaboration with the Asian Development Bank to create financing products designed specifically to address the barriers faced by female entrepreneurs. The bank’s recent product offerings have seen a positive reception, further establishing a pathway for female-led businesses to thrive economically.
The overarching message is one of optimism and potential growth; as Merchant Finance focuses on gender-sensitive financial products, the hope is that such proactive measures will contribute significantly to economic development and equitable opportunities for women in the region. The initiative exemplifies a broader movement towards gender inclusivity within the financial landscape, ensuring that women in Fiji benefit from the support and recognition they rightfully deserve.
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