Ministry explores setting up a Micro Bank for small local businesswomen

The Ministry of Women is exploring options to develop a micro bank for small local businesswomen.

Minister for Women Lynda Tabuya revealed this plan when opening the National Women’s Expo at the Vodafone Arena yesterday.

Ms Tabuya said the micro bank would provide small business owners a solid foundation when managing their finances.

“This micro bank has been used around the world and in Papua New Guinea,” she said.

“It’s my job to be able to bring this opportunity to Fiji, where women are shareholders of this bank.”

A similar concept was being introduced in Papua New Guinea way back in 2006 called Women’s Micro Bank Limited (MAMA BANK) is a licensed Micro-Bank regulated by Bank of PNG.

Evotia Ufuka at the sixth National Women’s Expo at the Vodafone Arena on November 21, 2023. Photo: Ronald Kumar

The goal of bank is to establish itself as a premier and most-sought after financial services provider that delivers quality income enhancement opportunities to all sections of women of Papua New Guinea.

The theme for the sixth Fiji National Women’s Expo “Digital ALL: Innovation and Technology for Gender Equality”, is aligned with the UN theme for International Women’s Day and it is an apt one indeed.

Ms Tabuya said innovation and technology provided unprecedented opportunities.

“It is vital that women’s ideas and experiences equally influence the design and implementation of innovations that shape our future societies,” she said.

“We look to industry leaders, game-changing start-ups, social entrepreneurs, gender equality activists, and women innovators to examine the ways in which innovation can remove barriers and accelerate progress for gender equality, encourage investment in gender-responsive social systems, and build services and infrastructure that meet the needs of women and girls.”

Feedback: sosiveta.korobiau@fijisun.com.fj