Eseta Nadakuitavuki demonstrated her commitment to empowering women in business during the launch of an initiative aimed at promoting female entrepreneurs. The former bank officer and Permanent Secretary for Women, Children, and Social Protection urged four financial institutions to adopt a new code focused on advancing the interests of women in business.
The Women Entrepreneurs Finance Initiative (WE-Fi) Code was signed by Westpac Bank, Merchant Finance Limited, South Pacific Business Development, and South Pacific Stock Exchange. These organizations join the Reserve Bank of Fiji, Fiji Development Bank, and various ministries that have already committed to the Code since its introduction in March.
Nadakuitavuki emphasized the need to dismantle barriers that prevent women’s voices from being recognized in the financial sector, attributing the challenges faced by women to cultural norms, financial literacy gaps, and systemic biases. “With the WE-Fi Code, we are taking a stand,” she stated.
Fiji is among the first countries not only in the region but also globally to embrace the WE-Fi Code, which the Reserve Bank of Fiji highlighted as a pioneering move. RBF Governor Ariff Ali noted that the code represents a collective promise from financial service providers and institutions to enhance funding for women-led micro, small, and medium enterprises (MSMEs), enabling them to contribute positively to the economy.
He recognized the signatories as leaders in their fields and praised their commitment to supporting women in Fiji. The signing event, hosted by the Reserve Bank, was attended by representatives from the signatory institutions and relevant ministries, marking a significant advancement in Fiji’s pursuit of gender equality and economic prosperity.
The institutions pledged to improve access to financial services for women and women-led MSMEs, create an environment conducive to gender-inclusive finance, and appoint a dedicated gender focal point within their organizations. They also agreed to collect and share data relevant to women-led MSMEs.
Westpac Fiji was the first commercial bank in the nation to sign the WE-Fi Code. CEO Shane Smith stated that the bank’s decision reflects its dedication to supporting women and girls, reinforcing their internal initiatives and commitment to gender equality in leadership roles.