Financial institutions in Fiji are being urged to take stronger action towards gender equality by integrating gender-focused strategies across their operations.
The recommendation comes as part of a broader Supply-Side Assessment of Gender-Inclusive Finance – Fiji, which highlights persistent gaps in access to finance for women and women-owned businesses.
The report recommends a two-pronged approach to address these challenges – developing a Gender Finance Strategy and a Gender Diversity and Inclusion Strategy within each financial institution’s business model.
The Gender Finance Strategy would help institutions better understand and respond to the financial needs of women and women-led enterprises. It would involve collecting and analysing gender-disaggregated data, identifying optimal customer segments, and designing tailored products and credit processes to meet the specific needs of women in business.
“This strategy reflects a financial institution’s commitment to applying a gender lens throughout its operations,” the report states.
“It provides direction to improve the quality and relevance of products and services offered to women customers.”
The second pillar focuses on internal transformation. The Gender Diversity and Inclusion Strategy would aim to promote balanced leadership and ensure equal opportunities within the organisation. Institutions are encouraged to work towards at least 30 percent female representation at senior executive and board levels in the medium term.
By embedding gender equality within their structure and operations, financial institutions stand to not only address longstanding gender gaps in finance but also unlock a significant untapped market.
The report calls for improved staff training, better portfolio management processes, and inclusive workplace policies that support women’s advancement both as customers and professionals.
The recommendations come amid continued concern that women remain underserved by the financial system in Fiji, despite government commitments and ongoing efforts by a handful of progressive institutions.
The report concludes that closing the gender finance gap requires not only external outreach but also deep internal change.
