The iTaukei Land Trust Board has officially sanctioned the formation of a Holding Company along with its subsidiary to spearhead new commercial ventures, as revealed during its 463rd Board Meeting on September 19, 2024.
This initiative aims to enhance economic participation across several critical sectors, including investment advisory, land development, and property management. The move is particularly significant as it seeks to empower iTaukei landowners through various commercial efforts.
The Holding Company is expected to create sustainable income streams and long-term economic prospects for landowners. The new entities’ structure was crafted in collaboration with PricewaterhouseCoopers, which provided essential guidance on legal, financial, and operational requirements.
The report from PricewaterhouseCoopers outlines a flexible framework that will facilitate strategic partnerships and the possibility of expansions into joint ventures and credit finance institutions.
Ifereimi Vasu, Minister of iTaukei Affairs and Chairman of the TLTB, emphasized that the establishment of the Holding Company is a vital milestone for diversifying business operations and fostering economic empowerment for landowners.
This commercial division will function independently from TLTB’s primary land administration responsibilities, ensuring robust governance and risk management practices while encouraging sustainable growth.
For further information, members of the public are encouraged to reach out to Salimoni Karusi, the Board Secretary, at 9995885.