The Reserve Bank of Fiji’s Financial Inclusion Report for 2024 reveals a remarkable surge in mobile money (MM) usage among adult Fijians, indicating a significant change in financial accessibility in the nation. The data shows that mobile money account ownership among men jumped from 25.4% in 2019 to an impressive 98.7% in 2023, although forecasts suggest a decrease to 73.6% in 2024.
Women, on the other hand, have seen an increase in mobile money account ownership, climbing from 22.9% in 2019 to 100% in 2021. However, projections indicate a decline to 64.4% by 2024. This information highlights a positive trend towards greater financial inclusion in Fiji, while simultaneously revealing a fluctuating gender gap in mobile money engagement.
The report also measures the activity levels of registered mobile money users, which have significantly improved over time—from 44% in 2019 to a projected 64.2% in 2024. Notably, gender-disaggregated data indicates that registered women users have consistently exhibited slightly higher activity levels than their male counterparts, with forecasts for 2024 predicting that 64.8% of registered women will be active users compared to 63.6% of men.
Despite the overall advancement in mobile money use, previous reports have identified persistent challenges in women’s financial inclusion in Fiji, especially in terms of accessing credit and formal financial services. The recent Gender Inclusive Finance Report has emphasized that while there are improvements in account ownership and mobile money participation, barriers still exist for women.
The financial landscape in Fiji is undergoing rapid transformation. Collaborative efforts spearheaded by the Reserve Bank of Fiji, in conjunction with support from international organizations, aim to address the gender disparities in financial service access. These initiatives are essential for fostering a more inclusive financial sector, ultimately promoting economic empowerment for all Fijians.
The progress in mobile money services offers a promising trajectory towards enhanced financial autonomy, particularly for women. With sustained efforts and targeted approaches, Fiji stands to gain significantly from the economic advantages of a more gender-equal financial ecosystem. This ongoing transformation symbolizes not only enhancements in financial inclusion but also the creation of a resilient economic environment that works to the benefit of the entire society.