Eseta Nadakuitavuki demonstrated her commitment to women’s empowerment in business during the launch of a new initiative aimed at supporting female entrepreneurs. As a former bank officer and the Permanent Secretary for Women, Children, and Social Protection, she encouraged four financial institutions to endorse a code designed to uplift the interests of 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 (RBF), Fiji Development Bank, and various government ministries that previously endorsed the Code in March.
Ms. Nadakuitavuki emphasized the importance of dismantling barriers that hinder women’s participation in the financial sector, citing cultural norms, lack of financial knowledge, and systemic biases as significant challenges.
Fiji is among the first countries worldwide to adopt this Code, positioning itself as a leader in this important initiative, according to RBF officials. The WE-Fi Code signifies a pledge by financial institutions to work together in increasing funding for women-led small and medium enterprises globally, thus contributing to economic growth and community development.
RBF Governor Ariff Ali remarked that the participating institutions are leaders in their fields and have a longstanding commitment to promoting women’s entrepreneurship. He praised their public commitment as a significant step forward for women in Fiji.
The signing ceremony took place at the Reserve Bank and was attended by representatives from the four financial institutions alongside various government officials. This collaboration is viewed as a vital milestone in Fiji’s progress toward achieving gender equality and economic success for all citizens.
Furthermore, the institutions pledged to enhance access to financial services for women and women-led MSMEs while fostering an environment conducive to gender-inclusive finance. They also committed to appointing a Gender focal point in their organizations and providing relevant data on women-led MSMEs.
Westpac Fiji was the first commercial bank in Fiji to adopt the Code, as stated by CEO Shane Smith. He noted that their endorsement aligns with Westpac Fiji’s core values and commitment to supporting women and girls within the community, highlighting their initiatives such as the Women of Westpac Employee Action Group and significant representation of women in leadership roles, as well as providing educational grants for women and girls for over a decade.