The Reserve Bank of Fiji’s Financial Inclusion Report for 2024 highlights a significant increase in the use of mobile money (MM) services among adult Fijians, marking a notable transformation in the country’s financial access landscape. The data shows that mobile money accounts for men skyrocketed from 25.4% in 2019 to 98.7% in 2023, although projections for 2024 predict a decrease to 73.6%.
Women have also experienced growth in engagement with mobile money, albeit at a less dramatic rate. Their account ownership increased from 22.9% in 2019 to an impressive 100% in 2021, with projections indicating a 64.4% usage rate in 2024. This data underlines a shift toward broader financial participation in Fiji, while revealing a fluctuating gender gap in mobile money usage.
The report also evaluates the activity levels of registered users, which have significantly improved over the years—from 44% in 2019 to a projected 64.2% in 2024. Gender-disaggregated data shows that registered women users have historically maintained slightly higher activity levels compared to men. In 2024, it’s forecasted that 64.8% of registered women will be active users, against 63.6% of men.
Previous reports have indicated ongoing challenges concerning women’s financial inclusion in Fiji, particularly regarding access to credit and formal financial services. Recent initiatives, including the Gender Inclusive Finance Report, reveal that obstacles remain for women, despite improvements in account ownership and mobile money engagement.
The financial landscape in Fiji is evolving rapidly. As highlighted in past reports, various collaborative efforts led by the Reserve Bank of Fiji and supported by international organizations aim to bridge the gender gaps in access to financial services. Such initiatives are critical in driving towards a more inclusive financial sector, encouraging economic empowerment for all Fijians.
The continued advancements in mobile money services signal a hopeful path forward towards greater financial independence and participation, especially for women. With concerted efforts and targeted strategies, Fiji could harness the potential economic benefits of a more gender-balanced financial ecosystem. This ongoing evolution not only represents progress in financial inclusion but also fosters a sustainable economic environment that benefits everyone in the society.