iTaukei Land Trust Board (TLTB) CEO Solomoni Nata has urged landowners to shift their mindset, abandon the hand-out mentality, and strive to overcome poverty through self-reliance.
TLTB has distributed its first set of 10 loan offers from its iTaukei Development Fund Facility (TDF), a new initiative aimed at improving services for landowners whose land is managed under the iTaukei Land Trust Act of 1940.
“The current state of iTaukei wellbeing is dire. We are seen as impoverished in our own nation—75% of our people are poor, and among them, we iTaukei are the most affected,” Nata stated.
This form of assistance is designed to help landowners start their own businesses, leveraging their land and resources to create new opportunities.
TLTB administers land for 7,747 landowning units, overseeing 53,446 leases that generate about $53.5 million annually in lease rentals. Despite distributing between $100 million to $120 million in lease money each year, many iTaukei landowners remain in poverty due to the money being carelessly spent, Nata explained.
In response, TLTB is implementing changes. “We need to change the situation. We can’t remain passive; hence, we are sourcing funds to support them. Today, we saw the first batch of assistance to the mataqali and individuals without requiring a deposit, based on robust business plans.”
Nata urged landowners to transform their approach to investment and adapt to a business-oriented culture, which includes early rising, saving money, and avoiding unnecessary expenditures on traditional practices.
This collaborative business approach involves reviewing business proposals, granting initial assistance, and providing ongoing support. Additional assistance might be provided as necessary since the funds belong to landowners and should not be wasted.
TLTB has allocated $5 million to the TDF, which will offer eligible landowners low-interest business loans to start or expand their enterprises.