Eseta Nadakuitavuki has taken significant steps to support women in business by launching a collaborative initiative aimed at enhancing their opportunities. The former bank officer and Permanent Secretary for Women, Children, and Social Protection encouraged four financial institutions to endorse a code designed to prioritize the needs of 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 new signatories join the Reserve Bank of Fiji (RBF), Fiji Development Bank, and various government ministries that adopted the Code earlier in March.
Nadakuitavuki emphasized the need to dismantle barriers and ensure that women’s voices are heard and valued within the financial sector. She highlighted how cultural norms, insufficient financial literacy, and systemic biases impede women’s progress.
“With the WE-Fi Code, we are taking a stand,” she affirmed, marking Fiji as one of the first nations globally to embrace this initiative. RBF highlighted the significance of the WE-Fi Code, which reflects a commitment from financial service providers and regulators to boost funding for women-led micro, small, and medium enterprises, fostering economic growth and community development.
RBF Governor Ariff Ali commended the institutions for their leadership and dedication to supporting women entrepreneurs in Fiji. The signing ceremony at the Reserve Bank included representatives from the participating institutions and ministries, showcasing a collective effort toward achieving gender equality and economic prosperity.
The Code entails commitments to improve access to financial services for women and to create a more inclusive financial environment. Institutions also pledge to appoint a Gender focal point and provide relevant data on women-led enterprises.
Westpac Fiji’s CEO Shane Smith noted that the bank was the first commercial institution in Fiji to adopt the WE-Fi Code, aligning with their commitment to empowering women and girls through various initiatives, including leadership roles and educational grants.