160 new financial accounts have been opened in Rotuma following the island’s first Financial Inclusion Maritime Expo [Photo: Reserve Bank of Fiji Facebook Page]
More than 160 new financial accounts have been opened in Rotuma following the island’s first Financial Inclusion Maritime Expo.
The two-day event brought banking, insurance, investment and business support services closer to residents of the remote maritime community.
The expo was organised by the Reserve Bank of Fiji, together with public and private sector partners.
Around 600 residents attended the event, representing nearly 40 per cent of Rotuma’s population.
Residents were able to meet service providers, receive financial advice and learn about available support programs.
The initiative also supported local businesses, with about 80 micro, small and medium entrepreneurs receiving business advice.
Many of the entrepreneurs also established links with agencies for continued support and guidance.
Financial literacy was another key focus of the expo. Forty-six participants completed ANZ’s MoneyMinded program, which focused on improving money management skills.
The event also featured Rotuma’s first-ever Hackathon, delivered through the Fiji Innovation Hub.
Six teams, involving 24 participants, developed technology-based solutions to address challenges faced by the island.
Rotuma Council Chairman Gagaj Manav said the expo gave residents an opportunity to access financial services, business support and new ideas.
Reserve Bank of Fiji Chief Manager Financial System Development Caroline Waqabaca said community involvement was important in making financial inclusion initiatives effective.
The Reserve Bank says the initiative supports Fiji’s National Financial Inclusion Strategy 2022–2030, which aims to improve access to affordable and suitable financial services across the country.
