On 9 March, to mark International Women’s Day, the Reserve Bank of Fiji (RBF) hosted a national workshop to mobilize support for gender inclusive finance.

The workshop brought together Fijian institutions who are signatories to the Women Entrepreneurs Finance Initiative (WE-Fi) Code. This global initiative aims to increase financing towards women-led and women-owned small businesses.

Women’s vital role to the economy, highlighted

Reserve Bank of Fiji Governor, Mr Ariff Ali, emphasized the critical role of Fiji’s financial sector in driving inclusive growth. He also highlighted women’s importance within the economy. “For a small island nation where every talent counts, we cannot afford to leave half our potential unused,” he said. “Empowering women is one of the smartest economic investments a country can make. A nation that invests in women is a nation that invests in its own prosperity.”

Governor Ali also acknowledged recent improvements in gender inclusive finance. The gender gap in deposit account ownership narrowed from 14 percent in 2020, to 10 percent in 2024.

“Supporting women entrepreneurs is a matter of justice,” said Asian Development Bank (ADB) Investment Specialist, Pinnapa Satitpatanapan. “Women-owned businesses continue to face barriers that limit their growth. It is not simply about providing support programs, it is about building a fairer and more inclusive financial system.”

ADB, RBF and financial institutions are collaborating to support women entrepreneurs and build a more inclusive financial ecosystem. This includes working to improve sex disaggregated data systems, national ID and e-KYC program.

Workshop participants shared insights on how their institutions are progressing towards their goals. They also discussed what more can be done to improve women’s access to finance.

Interested in this topic? Also read: Imagining a future where financial systems are designed by women, for everyone.