Merchant Finance Limited has reaffirmed its dedication to gender empowerment with the launch of the Marama Finance initiative, which focuses on enhancing financial opportunities for women-owned micro, small, and medium enterprises (MSMEs) in Fiji. During the event “Gender Champions and Ringing the Bell for Gender Equality” held in Suva, Marama Finance manager Laisani Rokoderea elaborated on the bank’s strategic approach to integrating gender equity across its operations.
Rokoderea explained that the foundation of Merchant Finance’s initiative stemmed from extensive research that underscored the financial difficulties faced by women-led MSMEs in Fiji. “We ran the numbers, did our due diligence, and once we were confident our internal gender policies were solid, we turned our focus outward,” she noted. This assessment revealed a significant market gap, prompting the establishment of Marama Finance, which comprises an all-female team committed to empowering female entrepreneurs.
The Marama Finance initiative goes beyond merely providing financial services; it embodies a substantial institutional pledge to gender empowerment in the financial sector. Acknowledging the importance of women’s representation in decision-making, the head of Marama Finance will be included in the bank’s executive management team.
In a move to solidify its mission, Merchant Finance plans to trademark the Marama Finance brand, indicating its ongoing commitment to elevate women in business. Rokoderea expressed optimism about the 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 new initiative aligns with prior efforts discussed in previous articles, particularly Merchant Finance’s cooperation with the Asian Development Bank to create tailored financing products addressing the challenges faced by female entrepreneurs. These recently launched products have received positive feedback, further paving the way for the economic growth of female-led enterprises.
The broader message emerging from this initiative is one of hope and potential. As Merchant Finance emphasizes gender-sensitive financial products, there is optimism that these proactive steps will significantly impact economic development and equitable opportunities for women in the region. This initiative represents a meaningful stride towards gender inclusivity within the financial landscape, ensuring that women in Fiji receive the support and recognition they deserve.
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