Eseta Nadakuitavuki has taken a significant step toward empowering women in business with the launch of a joint initiative aimed at enhancing support for female entrepreneurs. The former bank officer and Permanent Secretary for Women, Children, and Social Protection successfully encouraged four financial institutions to adopt a code focused on advancing women’s interests in business.
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 new signatories join the Reserve Bank of Fiji (RBF), Fiji Development Bank, and various ministries that embraced the Code back in March.
Nadakuitavuki emphasized the need to dismantle barriers and ensure that women’s perspectives are recognized and valued within the financial sector. She pointed out that cultural expectations, insufficient financial knowledge, and institutional biases have hindered women’s progress.
With the introduction of the WE-Fi Code, she stated, “we are taking a stand.” Fiji has positioned itself as a leader in this global initiative, being one of the first countries in the region to implement the Code, according to RBF.
The WE-Fi Code represents a commitment among financial service providers, regulators, development banks, and other financial entities to work together to enhance funding for women-led micro, small, and medium enterprises (MSMEs), supporting their growth and contributions to the economy.
RBF Governor Ariff Ali noted that the participating institutions are already advocates for woman entrepreneurship. By adopting the Code, they declare their commitment to supporting women in Fiji and set an example for their peers.
The signing ceremony took place at the Reserve Bank, with representatives from the involved organizations and ministries present. This initiative signifies a milestone in Fiji’s efforts toward achieving gender equality and economic inclusivity.
The institutions involved pledge to improve access to financial resources for women and women-led MSMEs, while also fostering a financially inclusive environment. They will appoint a Gender focal point within their organizations and provide data regarding women-led MSMEs.
Westpac Fiji was noted as the first commercial bank in the country to endorse the Code. CEO Shane Smith remarked that adopting the WE-Fi Code is in line with the bank’s values and its commitment to supporting women and girls in both their workforce and broader community initiatives, such as their internal Women of Westpac Employee Action Group and longstanding education grants for women and girls.