More than 12,000 women-led businesses in Fiji have successfully accessed financing over the past three years, marking a significant milestone as women now represent 38 percent of the country’s registered micro, small, and medium enterprises (MSMEs). This achievement highlights the momentum gained under the Women Entrepreneurs (WE) Finance Initiative Code.
The initiative, spearheaded by the Reserve Bank of Fiji (RBF) in collaboration with the Asian Development Bank (ADB), aims to dismantle long-standing barriers that women entrepreneurs have faced. Since Fiji joined the pilot phase of this initiative in 2024, participating financial institutions, regulators, and policymakers have worked to enhance lending practices, promote digital financial services, and increase women’s participation in Fiji’s formal economy.
RBF Governor Ariff Ali emphasized the vital role of women entrepreneurs in the nation’s economic development, describing the Code as a transformative force for empowerment, digital inclusion, and sustainable growth. He pointed out the notable improvements in women’s access to financial services, increased utilization of digital platforms, and rising female leadership within the financial sector.
In addition to these advancements, financial institutions have begun to introduce tailored products and services designed specifically for women-led businesses, reflecting a broader trend towards more inclusive banking practices.
Eseta Nadakuitavuki, the Permanent Secretary for the Ministry of Women, Children and Social Protection and the national champion for the initiative, highlighted the importance of aligning policy, regulation, and frontline services to sustain progress and create a supportive environment for women entrepreneurs.
As Fiji transitions from the pilot phase, the participating institutions are committed to enhancing the collection of sex-disaggregated data, expanding outreach to women-owned businesses, and developing innovative financial products that better align with their needs. Furthermore, the government’s approval of a national definition for women-owned MSMEs is anticipated to improve consistency and accountability within the financial system, paving the way for increased growth and sustainability in this vital sector.
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