THE Reserve Bank of Fiji (RBF) in collaboration with the Asian Development Bank (ADB) brought together key leaders from across Fiji’s financial sector to mark the end of the pilot phase of the Women Entrepreneurs (WE) Finance Initiative Code in Fiji.In opening the event early this month, RBF Governor Ariff Ali acknowledged the pivotal role of women entrepreneurs in driving Fiji’s economic development.
“The Code is a catalyst for empowering women entrepreneurs, strengthening digital inclusion and opening new pathways for sustainable growth,” Mr Ali said.
“Fiji is proud to lead this pilot, demonstrating what can be achieved when we invest in women and harness technology.”
Fiji first committed to the pilot in 2024 when institutions including the South Pacific Business Development, Westpac Bank, Merchant Finance Ltd, South Pacific Stock Exchange, HFC Bank, Kontiki Finance Ltd, Fiji Development Bank, Fiji Sugar Cane Growers Fund and the RBF signed on to the Code.
“This commitment represented a landmark step in aligning Fiji’s financial ecosystem with global efforts to expand access to finance for women-led micro, small and medium enterprises (WMSMEs),” Mr Ali said.
“The pilot phase has since demonstrated how coordinated action can dismantle systemic barriers, promote gender equality and create inclusive pathways for women entrepreneurs to thrive in the formal economy.
Governor Ali highlighted tangible progress achieved under the initiative:
-Gender gap in account ownership has narrowed from 16 per cent in 2015 to 10.2 per cent today;
-Women have embraced digital finance with the gender gap in active mobile money accounts now at -1.2 per cent, meaning more women than men actively use these services;
-Women’s leadership presence is growing across management and executive levels;
-Women now account for 38 per cent of all registered micro, small and medium enterprises (MSMEs) a significant increase from previous years;
-Over 60 per cent of financial institutions have introduced gender-focused products or services; and
-More than 12,000 women led enterprises have secured loans or financing over the past three years.
