In recent years, Fiji has witnessed remarkable growth in female entrepreneurship, with over 12,000 women-led businesses securing financing. Women now represent 38 percent of the nation’s registered micro, small, and medium enterprises (MSMEs), signifying a significant achievement in fostering gender equality in the business sector.
This expansion aligns with the Women Entrepreneurs (WE) Finance Initiative Code, which is designed to improve financial access for women entrepreneurs. Launched by the Reserve Bank of Fiji (RBF) in partnership with the Asian Development Bank (ADB), the initiative seeks to address the ongoing challenges faced by women in business. Since Fiji joined this initiative in 2024, participating financial institutions, regulators, and policymakers have collaborated to advance lending practices and promote digital financial services, enabling more women to engage in the formal economy.
Ariff Ali, Governor of the RBF, spoke about the critical role of women entrepreneurs in driving economic growth in Fiji. He characterized the Code as a transformative tool for empowerment, digital inclusion, and sustainable development. Ali noted significant improvements in women’s access to financial services, the increased adoption of digital platforms, and a rise in female leadership within the financial services industry.
In response to the changing landscape, financial institutions are now offering products tailored specifically for women-led enterprises. Eseta Nadakuitavuki, Permanent Secretary for the Ministry of Women, Children and Social Protection, highlighted the necessity of aligning policies and regulations to cultivate a supportive environment for women entrepreneurs.
As the initiative advances beyond its pilot phase, participating organizations are committed to improving sex-disaggregated data and increasing outreach to women-owned businesses. The government’s recent endorsement of a national definition for women-owned MSMEs is expected to enhance both consistency and accountability in financial engagements.
This initiative encapsulates a strong commitment to empowering women in business, promoting a more equitable economic landscape in Fiji, and paving the way for a flourishing future for women entrepreneurs.