Eseta Nadakuitavuki has taken actionable steps to support women in business by launching a joint initiative aimed at enhancing their presence in the financial sector. The initiative led to the signing of the Women Entrepreneurs Finance Initiative (WE-Fi) Code by four financial institutions: Westpac Bank, Merchant Finance Limited, South Pacific Business Development, and South Pacific Stock Exchange.
These institutions join the Reserve Bank of Fiji, Fiji Development Bank, and two government ministries that endorsed the Code in March. Nadakuitavuki emphasized the importance of dismantling barriers that prevent women’s voices from being heard in finance, pointing out challenges like cultural norms and systemic biases that hinder women’s progress.
With the implementation of the WE-Fi Code, Fiji positions itself as a trailblazer in this global initiative, as noted by the Reserve Bank of Fiji (RBF). RBF Governor Ariff Ali highlighted the commitment from financial institutions to enhance funding for women-led micro, small, and medium enterprises (MSMEs), thereby fostering economic growth and community development.
The signing event at the Reserve Bank saw participation from representatives of the signing institutions and government ministries, marking a crucial advancement in Fiji’s pursuit of gender equality and economic prosperity. The institutions pledged to boost access to financial services for women and to create supportive environments for gender-inclusive finance. They also committed to appointing a Gender focal point within their organizations and sharing relevant data about women-led MSMEs.
Westpac Fiji’s CEO Shane Smith described the bank’s adoption of the WE-Fi Code as consistent with its core values and dedication to uplifting women and girls both within the company and in the community, highlighting their long-standing initiatives such as the Women and Girls Education Grants.