Eseta Nadakuitavuki showcased her commitment to women’s empowerment in business during the launch of a collaborative initiative aimed at promoting female entrepreneurs. The former bank officer and Permanent Secretary for Women, Children and Social Protection encouraged four financial institutions to adopt a code designed to enhance support for women 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, 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 existing barriers and ensure that women’s voices are heard and respected within the financial sector. She pointed out that cultural norms, inadequate financial literacy, and systemic biases often hindered women’s progress. “With the WE-Fi Code, we are taking a stand,” she declared.
Fiji is among the first nations in the region and worldwide to endorse the WE-Fi Code, solidifying its role as a pioneer in this endeavor, according to the Reserve Bank of Fiji. RBF Governor Ariff Ali explained that the code represents a commitment from financial service providers, regulators, and development banks to increase funding for women-led micro, small, and medium enterprises globally, thereby enhancing their contributions to the economy and their communities.
Ali praised the new signatories as leaders in their respective industries and advocates for women’s entrepreneurship. “By signing today, they are making a public statement of their commitment to women in Fiji,” he said, commending their readiness to take such definitive actions.
The signing ceremony, conducted at the Reserve Bank, saw representatives from the participating institutions and ministries present. This collective action signifies a pivotal step in Fiji’s pursuit of gender equality and economic advancement. The institutions involved pledge to improve access to financial services for women and women-led MSMEs while fostering a supportive environment for gender-inclusive finance.
They also commit to designating a Gender focal point within their organizations and providing necessary data and insights on women-led MSMEs. Westpac Fiji was the first commercial bank to join the WE-Fi Code, as stated by CEO Shane Smith. He highlighted that adopting the code aligns with Westpac Fiji’s core values and its ongoing commitment to supporting women and girls in both the workplace and the broader community. This includes initiatives like the Women of Westpac Employee Action Group and maintaining 40 percent representation of women in leadership roles, along with 13 years of providing Women and Girls Education Grants.