The iTaukei Land Trust Board (TLTB) has officially approved the establishment of a Holding Company and its subsidiary aimed at spearheading new commercial activities, as revealed during its 463rd Board Meeting on September 19, 2024.
The Board’s primary objective is to enhance economic participation across critical sectors, including investment advisory, land development, and property management.
This initiative is particularly noteworthy as it aims to empower iTaukei landowners through various commercial ventures.
The plan seeks to create sustainable income and long-term economic opportunities for these landowners.
The structure of the new entities was designed with the assistance of PricewaterhouseCoopers, which offered guidance on legal, financial, and operational compliance.
The report from PricewaterhouseCoopers suggests a flexible framework conducive to forming strategic partnerships and exploring expansions into joint ventures and credit finance institutions.
Ifereimi Vasu, the Minister of iTaukei Affairs and Chairman of TLTB, noted that the creation of the Holding Company marks a significant move toward diversifying business activities and enhancing economic empowerment for landowners.
The new commercial entity will operate independently from TLTB’s primary land administration functions, ensuring effective governance and risk management while promoting sustainable growth.
For additional information, members of the public are encouraged to reach out to Salimoni Karusi, the Board Secretary, at 9995885.