The iTaukei Land Trust Board has announced the creation of a Holding Company and its subsidiary to spearhead new commercial initiatives, as revealed at its 463rd Board Meeting on September 19, 2024.
The Board aims to enhance economic involvement in key sectors including investment advisory, land development, and property management through this initiative.
This move is important as it seeks to empower iTaukei landowners through various commercial ventures, ultimately generating sustainable income and long-term economic opportunities.
The new entities’ structure was developed in partnership with PricewaterhouseCoopers, which assisted in ensuring compliance with legal, financial, and operational standards.
According to a report from PricewaterhouseCoopers, the structure is designed with flexibility to foster strategic partnerships and potential growth into joint ventures and credit finance institutions.
Ifereimi Vasu, Minister of iTaukei Affairs and Chairman of TLTB, emphasized that the establishment of the Holding Company is crucial for diversifying business operations and enhancing economic empowerment for landowners.
The commercial division will function independently from TLTB’s main land administration responsibilities, allowing for effective governance and risk management while focusing on sustainable growth.
For further details, the public can reach out to Salimoni Karusi, the Board Secretary, at the contact number 9995885.