The Minister for Women, Children and Social Protection, Hon. Lynda Tabuya, participated in the Feminist Finance side event at the Beijing +30 Asia Pacific Conference currently underway in Bangkok, Thailand. During the event, Minister Tabuya emphasised the crucial role that women play in Fiji’s economy, highlighting that their contributions are often unrecognised.
Minister Tabuya said that discussions on this issue were timely, as leaders and stakeholders present at the conference reflect on progress and challenges three decades after the Beijing Declaration.
However, Minister Tabuya noted that for Fiji and most of the Pacific, the fact remains that financing of gender equality is still one of the most significant gaps that needs to be addressed.
Minister Tabuya highlighted that women-owned Micro, Small, and Medium Enterprises (MSMEs) account for 19% of all MSMEs in Fiji, yet they face an unmet credit demand of USD 111 million.
Further stating that with Fiji being home to over 5,500 registered women-owned MSMEs, alongside 18,742 self-employed women, whereby 4,650 women worked in the handicrafts sector, only 19% of registered businesses in Fiji were owned by women as of 2018.
In her remarks, Minister Tabuya highlighted the importance of recognising and supporting women’s economic participation, stating that women are key contributors to Fiji’s economy.
In line with this commitment, the Fiji Government has championed the implementation of the Women’s Economic Empowerment National Action Plan (WEE NAP), an initiative that aims to address the various barriers that hinder women’s full participation in the economy.
“I would like to highlight that Fijian women entrepreneurs face significant challenges in securing loans or accessing financial services due to limited collateral, entrenched gender biases within financial institutions, and the absence of tailored financial products designed to meet their specific needs.”
She stated that women’s reliance on informal lending stems from traditional lenders who perceive women as high-risk borrowers, and the absence of critical data on women-owned businesses and their financial needs makes it a challenge for policymakers and financial institutions to tailor targeted, evidence-based solutions.
Minister Tabuya expressed her dedication to fostering collaboration among stakeholders and learning from best practices that will ensure that women entrepreneurs in Fiji are empowered.
She emphasised the need for concerted efforts to create a more inclusive and equitable economic environment that enables women to thrive and contribute fully to the nation’s development.
Fiji’s participation at the Feminist Finance side event at the Beijing +30 Asia Pacific Conference underscores the country’s commitment to promoting women’s economic empowerment and advancing gender equality.
Through initiatives like the Women’s Economic Empowerment National Action Plan, Fiji is taking concrete steps to support and uplift women, creating a more inclusive society for all.
