iTaukei Land Trust Board (TLTB) Chief Executive Officer Solomoni Nata has called on landowners to shift their mindset, abandon the hand-out mentality, and work their way out of poverty.
Yesterday, TLTB issued its first set of 10 loan offers through 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 1940.
“The current status of iTaukei wellbeing is not good. We are seen as poor in our own country, with 75 percent of our people living in poverty, and iTaukei are the poorest of the poor,” said Mr. Nata.
“This assistance is designed to help them start their own businesses, utilize their land or whatever resources they have to begin new ventures,” he added.
The TLTB serves a total of 7,747 landowning units including yavusa, mataqali, and tokatoka, and administers about 53,446 various leases, generating approximately $53.5 million in lease rentals annually.
Each year, TLTB distributes between $100 million to $120 million in lease money to these landowning units. According to Mr. Nata, this money is usually spent quickly while iTaukei people continue to live in poverty.
This ongoing situation has prompted changes within TLTB.
“We must reverse this situation. We can’t stay idle, so we are taking action. TLTB is sourcing funds to assist landowners. Today, we distributed the first batch of assistance to mataqali and individuals, based on solid business plans without requiring deposits.
“I’m telling landowners that the current path must change. They need to change their attitude towards investment and the culture of business—waking up early, saving money, and avoiding unnecessary expenditures on traditional obligations.
“This is a collaborative approach to doing business. We’ll review the business proposal, provide assistance, and follow up with them. If needed, we can offer further assistance because this is the landowners’ money, and we don’t want to waste it.”
The TDF has been allocated $5 million by TLTB and will offer low-interest business loans to eligible landowners to start or expand their enterprises.