Nadakuitavuki Puts Her Money Where Her Mouth Is

Eseta Nadakuitavuki put her money where her mouth is at the launch of a co-joint effort that aim to elevate women in business.

The former bank officer and Permanent Secretary for Women Children and Social Protection, prompted four finance agencies to commit to a code that elevated the interests of female entrepreneurs.

Women Entrepreneurs Finance Initiative (WE-Fi) Code was signed by Westpac Bank, Merchant Finance Limited, South Pacific Business Development and South Pacific Stock Exchange.

The new signatories join the Reserve Bank of Fiji (RBF), Fiji Development Bank, the Ministry of Women, Children and Social Protection and the Ministry of Trade, Co-operatives, SMEs and Communications who signed the Code in March this year.

“We are saying that these barriers must come down and that women’s voices must be heard and valued in the financial sector,” Ms Nadakuitavuki said.

She said cultural norms, lack of financial literacy and systemic biases held back women.

“With the WE-Fi Code, we are taking a stand,” she said.

Fiji is one of the first countries in the region and globally to adopt the Code, putting Fiji as pioneers in this initiative, RBF said.

“The WE-Fi Code is a commitment by financial services providers, regulators, development banks, and other financial institutions to collaborate on increasing funding provided to women-led micro small medium enterprises around the world, so that they can grow and add value to the economy and their communities,” RBF governor, Ariff Ali said.

“Each institution is a leader in their industry and are already advocates of women entrepreneurship and empowerment,” he said.

“By signing today, they are making a public statement of their commitment to women in Fiji.

“I applaud their willingness to make these commitments and to act as leaders amongst their peers”.

The signing ceremony, held at the Reserve Bank, was attended by representatives from the four institutions and ministries. This collaborative effort marks a significant milestone in Fiji’s journey towards achieving gender equality and economic prosperity for all, RBF said.

“Through the code, the institutions commit to advancing access to financial services for women and women-led MSMEs while enhancing an enabling environment for gender inclusive finance,” RBF said.

“They commit to appointing a Gender focal point within their institution and to providing relevant data and information on women-led MSMEs.”

Westpac Fiji was the first commercial bank in Fiji to sign up to the code, said chief executive officer Shane Smith.

“Our decision to adopt the WE-Fi Code aligns with Westpac Fiji’s core values and long-standing dedication to supporting women and girls in our workplace and our community; from our internal Women of Westpac Employee Action Group and 40 per cent women in leadership roles, to our 13 years of providing Women and Girls Education Grants.”

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