A recent gender-inclusive finance survey highlights significant challenges faced by women in Fiji, particularly those aged 15-35, in accessing financial services and entrepreneurship support. According to the Reserve Bank of Fiji’s (RBF) Gender Inclusive Finance Report, women in this age group are less likely to have bank accounts and access to capital compared to men. Women-owned businesses face additional hurdles despite having similar turnover and loan documentation as businesses led by men.
This disparity is underscored by the fact that loans granted to women-owned businesses are generally smaller than those given to men-owned businesses of equivalent size. Despite the government’s public commitments to bridge gender finance gaps, knowledge about gender-inclusive finance remains limited, impeding broader engagement and practical implementation.
A critical barrier identified is the lack of comprehensive data on women-owned businesses, including their turnover and economic contributions, rendering them less understood by financial institutions. Financial institutions often question the business potential and required efforts to serve these segments, leading to a systemic undervaluation of women’s specific financial needs.
The survey found that while women have a similar number of savings and deposit accounts as men, the average values are significantly lower. Women hold, on average, 25% less than men in savings and 43% less in term deposits. Moreover, the number and value of loans to women are considerably lower, with the average loan for women being 64% smaller than their male counterparts.
Women comprise the majority owners of 30% of registered Micro, Small, and Medium Enterprises (MSMEs) in Fiji. However, a considerable segment of women remains financially unserved, with many in informal employment having limited access to social benefits. The report stresses that even women with loans receive lower amounts, suggesting they are severely underserved.
Loan rejections for women often cite lack of collateral and insufficient documentation, but another common reason is perceived limited capacity to run businesses—a rationale less applied to male applicants. Such discrimination highlights an entrenched bias that needs urgent addressal.
The situation has captured attention from various stakeholders in Fiji, previously reported in other studies that emphasize the need for gender-inclusive financial strategies. Initiatives like the Women Entrepreneurs Finance Initiative (WE-Fi) have been pivotal in promoting women’s financial participation. Nevertheless, the challenges suggest a continued necessity for broad-based policy engagement and innovation to achieve genuine financial equality and leverage women’s contributions to economic development. Empowering women financially continues to be a promising pathway to fostering a more inclusive and prosperous society in Fiji.