Westpac Fiji is driving female empowerment and advancing financial inclusion through a series of focused initiatives that emphasize the bank’s commitment to supporting women in business. Recognizing the substantial impact of women excelling in entrepreneurial roles, Westpac Fiji’s Chief Executive, Shane Smith, highlighted the bank’s efforts to provide not only financial literacy but also practical business success tools to women.
For over 15 years, Westpac has led the way in offering financial literacy programs that have reached more than 50,000 individuals. These programs, such as Financial First Steps and Business Basics, aim to equip participants with essential skills in savings, budgeting, and personal finance management, which are particularly valuable during economically challenging times.
A key part of Westpac Fiji’s empowerment strategy is the Women and Girls Education Grants, which have distributed over $300,000 in educational funding to more than 400 female recipients since 2010. This initiative underscores the bank’s ongoing efforts to create opportunities for women across Fiji and is bolstered by the bank’s adoption of the Women Entrepreneurs Finance Initiative (We-Fi) Code. By being the first commercial bank in Fiji to adopt this code, Westpac is setting a benchmark for others in the region.
The bank’s backing for female entrepreneurship is further solidified through its Female Founders Program, which provides women-led micro, small, and medium enterprises (MSMEs) with annual grants of $25,000. The program also offers tailored loan facilities that assist in business growth, equipment acquisition, and debt restructuring. This comprehensive support structure empowers women entrepreneurs by allowing them to manage their finances flexibly and align loan repayments with business needs for sustainable growth.
Shane Smith articulated the essence of these programs as not just empowering women but also nurturing a dynamic and prosperous community. By investing in female entrepreneurship, Westpac Fiji is working to eliminate financial barriers and stimulate broad-based economic growth.
Westpac Fiji’s initiatives serve as a powerful testament to the transformative effect of economically empowering women. The bank’s programs contribute significantly to the ongoing dialogue of gender equality and community prosperity, with far-reaching implications for enhanced socio-economic resilience in Fiji. These initiatives provide a promising outlook for the entrepreneurial landscape and the broader community, painting a hopeful and optimistic future.