Women in Fiji continue to face significant challenges accessing finance, both as individuals and business owners, according to a new report assessing gender-inclusive finance in the country.
The Supply-Side Assessment of Gender-Inclusive Finance – Fiji reveals that fewer women than men, particularly those aged 15 to 35, have bank accounts.
Women-led businesses also face greater hurdles accessing capital even when their turnover and documentation are similar to those of male-led enterprises.
The average loan size for women-owned businesses remains substantially lower than loans to men operating businesses of comparable size.
The report suggests this could be due to unconscious gender bias within lending institutions, where more stringent requirements may be placed on female borrowers.
Despite Fiji’s strong public commitments to closing gender finance gaps and the existence of several financial inclusion working groups, the report finds that knowledge and awareness about gender-inclusive finance remain limited to a small group of stakeholders.
“Many financial institutions question the business case and the effort required to reach underserved segments in a small market such as Fiji,” the report says.
“There is a lack of understanding – and in some cases, outright denial – that women have distinct financial needs and behaviours that merit dedicated strategies.”
The report also points to a lack of robust data on women-owned businesses, making it difficult for financial institutions to understand or adequately serve this segment.
High red tape and documentation requirements also discourage many women from formalising their businesses, further excluding them from financial services.
Only a few financial institutions in Fiji are actively addressing this gap.
The Fiji Development Bank (FDB) has introduced new products and revised loan appraisal processes to better support small, slow-growing businesses – many of them owned by women.
The South Pacific Business Development (SPBD) microfinance institution, which operates in rural and remote areas, has helped 40 percent of its female clients formalise their businesses. Meanwhile, Merchant Finance is developing a dedicated strategy to support women-owned MSMEs.
The report concludes that while there are promising efforts underway, much more support and awareness is needed across the financial sector to create meaningful change and fully unlock the economic potential of women in Fiji.
