Women-owned businesses constitute only 19 percent of formally registered Micro, Small, and Medium Enterprises (MSMEs) in Fiji, revealing a significant financing gap estimated at $241 million annually. This concern was highlighted by Munkhtuya Altangerel, the UNDP Fiji Resident Representative, during the launch of the National MSME strategy and database in Suva.
Altangerel pointed out that women continue to encounter numerous barriers to economic participation. She emphasized the urgent need for gender-responsive investments and the strengthening of national systems to enhance access to finance, markets, and visibility for women entrepreneurs. While MSMEs make up over 90 percent of registered businesses in Fiji and play a crucial role in supporting livelihoods, women-led enterprises remain notably underrepresented within the formal economy.
A considerable number of women also operate in the informal sector, particularly in fields such as agriculture, fisheries, tourism, handicrafts, and market vending. The lack of cohesive data and limited visibility has historically hindered the support available to women entrepreneurs. However, the introduction of the new MSME database and strategy aims to illuminate the contributions of women-led enterprises, thereby facilitating targeted financial and policy support.
Altangerel asserted that bridging the gender finance gap is not solely a matter of equitable access but is fundamentally tied to fostering economic growth. By increasing the participation of women-led MSMEs, Fiji can expect a boost in job creation, enhanced household incomes, and improved economic resilience in the long run. This initiative represents a promising step forward in empowering women and driving sustainable economic development in the region.
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