The iTaukei Land Trust Board has made significant progress in supporting local entrepreneurs, approving and financially backing 46 iTaukei businesses with a total assistance of $3 million throughout 2024. Minister for iTaukei Affairs, Ifereimi Vasu, described this initiative as a promising step towards fostering economic independence and development for the iTaukei community.
This support encompasses 23 business trusts, cooperatives, and iTaukei companies alongside 23 individual businesses. Vasu encouraged iTaukei individuals to fully utilize this assistance to enhance their livelihoods and encouraged community engagement in entrepreneurship to alleviate poverty.
Emphasizing the importance of this initiative, Vasu pointed out that the collaborative efforts of the iTaukei Land Trust Board aim to create a sustainable and thriving business environment. This aligns with previous discussions highlighting challenges faced by iTaukei landowners, such as financial barriers and lack of business education, which have historically hindered their participation in the economy.
Recent workshops focusing on financial literacy and strategic business planning have aimed to equip the iTaukei community with essential skills, ensuring they are well-prepared to navigate the entrepreneurial landscape. By increasing awareness and access to resources, Vasu believes that more iTaukei individuals can become business owners, currently representing just five percent of the community.
The commitment shown by the iTaukei Land Trust Board to empower and support local entrepreneurs brings hope for a stronger economic future. With continued focus on developing business acumen among iTaukei individuals, there is potential for greater financial resilience and community prosperity in Fiji.
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