The South Pacific Stock Exchange (SPX) is actively seeking ways to engage Fijians living abroad in investing back in their home country by purchasing shares. Chairman Nitin Gandhi emphasizes the importance of tapping into the financial influence of the Fijian diaspora to bolster the local stock market. By encouraging overseas Fijians to invest, the SPX aims to not only strengthen the market but also to instill a sense of national pride and contribution among those living outside Fiji.
Gandhi states, “They’re interested in the Fiji markets. We’re talking about the Fijian diaspora; all the Fijians abroad are looking at Fiji, putting something back into the country by buying shares in Fiji-listed companies.” This initiative is aligned with the broader success of the SPX, as investor confidence has been rising, creating a favorable environment for businesses.
Reflecting on recent trends, 2024 has been a remarkable year for the SPX, witnessing record dividend payouts of FJD 76 million across 16 listed companies, marking the highest in its history. This achievement underscores the recovery and growing potential of Fiji’s financial landscape. The successful Initial Public Offering (IPO) of SUN Insurance Company Limited further indicates strong demand for market participation, attracting a significant influx of new investors.
As the SPX continues to innovate, initiatives like dividend reinvestment plans are contributing to increasing shareholder engagement and confidence, indicating a blossoming investment culture in Fiji. The exchange’s proactive efforts to raise awareness about investment opportunities are crucial in making the market more inclusive for all Fijians.
In sum, the SPX’s focus on engaging the Fijian diaspora coupled with its recent successes paints a hopeful picture for economic growth and community participation in Fiji’s financial future. There is a palpable optimism surrounding the ability of both local businesses and overseas Fijians to play a pivotal role in the revitalization and expansion of the stock market.
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