Eseta Nadakuitavuki has taken significant steps to promote women’s advancement in business with the launch of a new initiative. The former bank officer and Permanent Secretary for Women, Children, and Social Protection has encouraged four financial institutions to adopt a code focused on advancing the interests of female entrepreneurs.
The Women Entrepreneurs Finance Initiative (WE-Fi) Code was endorsed by 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, the Ministry of Women, Children and Social Protection, and the Ministry of Trade, Co-operatives, SMEs, and Communications, which had previously signed the Code in March.
Nadakuitavuki emphasized the need to dismantle barriers and ensure that women’s voices are recognized and valued in the financial sector. She pointed out that cultural obstacles, limited financial literacy, and systemic biases hinder women’s progress.
“Through the WE-Fi Code, we are taking a stand,” she declared. Fiji is among the first nations in the region and worldwide to adopt this Code, positioning it as a leader in this initiative, according to the Reserve Bank of Fiji (RBF).
RBF Governor Ariff Ali stated that the WE-Fi Code signifies a commitment by financial providers, regulators, and institutions to collaborate and increase funding for women-led micro, small, and medium enterprises globally, enhancing their capacity to contribute to the economy and their communities.
Each signatory institution is recognized as a leader in its field and already advocates for women’s entrepreneurship and empowerment. By signing the Code, they publicly affirm their dedication to supporting women in Fiji.
The signing ceremony, conducted at the Reserve Bank, was attended by representatives from the four financial institutions and government ministries. This collaborative approach represents a key milestone in Fiji’s efforts to achieve gender equality and economic development.
The institutions pledged to improve access to financial services for women and women-led MSMEs, as well as create a more enabling environment for gender-inclusive finance. They also commit to designating a Gender focal point within their organizations and providing data relevant to women-led MSMEs.
Westpac Fiji was the first commercial bank in the country to adopt the Code, according to Chief Executive Officer Shane Smith. He noted that this decision aligns with Westpac Fiji’s core values and ongoing commitment to supporting women and girls in both the workplace and the community, highlighting initiatives like the Women of Westpac Employee Action Group and their long history of providing Women and Girls Education Grants.