Westpac Fiji is advancing female empowerment and financial inclusion through a series of well-structured initiatives that underscore the bank’s dedication to supporting women in business. Acknowledging the significant impact of women thriving in entrepreneurial roles, Westpac Fiji’s Chief Executive, Shane Smith, emphasized the bank’s commitment to facilitating not just financial literacy but practical business success tools.
For over 15 years, Westpac has been a trailblazer in offering financial literacy programs that have reached more than 50,000 individuals. These programs, including Financial First Steps and Business Basics, are designed to equip participants with essential skills in savings, budgeting, and personal finance management, an invaluable asset during economically uncertain times.
A cornerstone of Westpac Fiji’s empowerment strategy is the Women and Girls Education Grants, which have provided over $300,000 in educational funding to more than 400 female recipients since 2010. This initiative highlights the bank’s sustained efforts to create opportunities for women across Fiji and is complemented by the bank’s adoption of the Women Entrepreneurs Finance Initiative (We-Fi) Code. As the first commercial bank in Fiji to adopt this code, Westpac sets a precedent for others in the region.
Further cementing its support for female entrepreneurship, the bank’s Female Founders Program offers women-led micro, small, and medium enterprises (MSMEs) annual grants of $25,000. The program also provides tailored loan facilities, aiding business growth, equipment acquisition, and debt restructuring. This comprehensive support structure empowers women entrepreneurs to manage their finances flexibly, aligning loan repayments with business needs for sustainable growth.
Shane Smith articulated the essence of these initiatives as not only empowering women but fostering a vibrant and prosperous community. By investing in female entrepreneurship, Westpac Fiji aims to dismantle financial barriers and spark broad-based economic growth.
In essence, Westpac Fiji’s efforts are a powerful testament to the transformative impact of empowering women economically. The bank’s initiatives contribute to a larger narrative of gender equality and community prosperity, with far-reaching implications for enhanced socio-economic resilience in Fiji. Such programs leave a hopeful and promising outlook for the entrepreneurial landscape and the broader community as a whole.