Eseta Nadakuitavuki demonstrated her commitment to advancing women’s roles in business during the launch of a joint initiative aimed at this goal. The former bank officer and Permanent Secretary for Women Children and Social Protection urged four financial institutions to endorse a code designed to support female entrepreneurs.
The Women Entrepreneurs Finance Initiative (WE-Fi) Code was signed by Westpac Bank, Merchant Finance Limited, South Pacific Business Development, and the South Pacific Stock Exchange. These organizations join the Reserve Bank of Fiji (RBF), Fiji Development Bank, the Ministry of Women, Children and Social Protection, and the Ministry of Trade, Co-operatives, SMEs, and Communications, who had previously signed the Code in March.
Ms. Nadakuitavuki emphasized the need to dismantle barriers and ensure that women’s voices are recognized and valued in the financial landscape. She pointed out that cultural norms, inadequate financial literacy, and systemic biases have hindered women’s progress.
With the WE-Fi Code, she asserted, “we are taking a stand.” Fiji has become one of the first countries in the region and worldwide to adopt this code, establishing itself as a leader in this important initiative, according to RBF.
RBF Governor Ariff Ali noted that the WE-Fi Code represents a commitment from financial service providers, regulators, development banks, and other financial entities to work together to improve funding for women-led micro, small, and medium enterprises globally, supporting their growth and contribution to the economy and community.
He praised the signatory institutions as leaders in their fields and advocates for women’s entrepreneurship and empowerment, recognizing their public commitment to support women in Fiji.
The signing event, held at the Reserve Bank, included representatives from the participating institutions and relevant ministries, marking a significant step toward achieving gender equality and economic advancement for all, as highlighted by RBF.
The institutions are dedicated to enhancing access to financial services for women and women-led MSMEs and will establish a Gender focal point within their organizations to provide important data on these enterprises.
Westpac Fiji was the first commercial bank in the country to adopt the WE-Fi Code, affirmed CEO Shane Smith. He stated that the move aligns with Westpac’s core values and ongoing commitment to supporting women and girls, showcased through their internal Women of Westpac Employee Action Group and their efforts in funding Women and Girls Education Grants for over a decade.