Safe, Affordable Financial Services for Rural Communities and People with Disabilities
By Tu’ifua Vailena, Tonga Independent News
Nukuʻalofa, – Tonga recently hosted a significant regional financial summit, welcoming central bank governors and senior officials from across the Pacific — including Fiji, Samoa, Papua New Guinea, Vanuatu, and the Solomon Islands.
The four-day summit, held in Nukuʻalofa from 3–6 June, was co-hosted by the National Reserve Bank of Tonga and the Alliance for Financial Inclusion (AFI). Attendees included representatives from the central banks of Seychellesand Kenya, further strengthening ties between the Pacific and broader international financial networks.
A key outcome of the meeting was the signing of the “Nukuʻalofa Pledge” — a regional commitment to promote inclusive financial systems that are accessible, climate-resilient, and economically empowering for all, including underserved groups.
“The Nukuʻalofa Pledge is a shared commitment by all central banks in the region to ensure that no country is left behind,” said Governor Tatafu Moeaki, Chair of the meeting and head of the National Reserve Bank of Tonga. “We are pledging to expand access to safe, affordable financial services — particularly for women, youth, rural communities, and people with disabilities — using digital solutions that are secure and trusted.”
Tonga Launches Fintech Sandbox
One of the most significant announcements during the meeting was the launch of Tonga’s Fintech Regulatory Sandbox — a controlled environment where entrepreneurs and financial service providers can test innovative digital products under the supervision of the Reserve Bank.
Governor Moeaki described the sandbox as “an opportunity for young entrepreneurs to test their technology in a live environment, with the Reserve Bank providing guidance to ensure they are market-ready and safe before launching to the wider public.”
The initiative is designed to support micro, small and medium enterprises (MSMEs) by reducing regulatory risks during the testing phase and encouraging greater investment in digital services that serve local needs.
Focus on Equity and Resilience
Participants also discussed strategies to improve digital literacy, ensure financial services reach vulnerable populations, and adapt digital solutions to local Pacific contexts.
“The digital shift must be inclusive,” Governor Moeaki noted. “That means ensuring older citizens, women, and youth are not left behind. Financial institutions will be expected to support education and confidence-building to help people use these tools effectively.”
The meeting also emphasised the importance of regional collaboration, including learning from countries like China and Kenya, which have successfully expanded financial inclusion through mobile technology. According to Moeaki, Tonga and other Pacific nations can adapt such solutions “at a lower cost and with donor support, tailored to our own realities.”
Preparing for the Future
The outcomes of the Nukuʻalofa meeting will contribute to discussions at the South Pacific Governors’ Annual Meeting and inform preparations for the 2025 AFI Global Policy Forum. A strong focus remains on leveraging digital finance to respond to climate-related risks and improve financial resilience across island economies.
“Climate change remains one of our region’s biggest challenges,” Governor Moeaki said. “We must ensure that our financial systems can support access to aid during disasters, green financing, and affordable insurance.”
As Tonga steps into a leadership role within the region’s financial inclusion movement, the success of these initiatives will depend on sustained commitment and coordinated action among government, financial institutions, and development partners.
