In 2024, the South Pacific Stock Exchange (SPX) achieved remarkable growth, with its total market capitalization surpassing $3.65 billion, an increase of $321 million or 9.61% compared to the previous year. This growth highlights a growing awareness and participation among Fijian investors in the stock market. According to SPX CEO Sheraj Obeyesekere, the year witnessed an impressive performance across multiple key indicators.

Trading activity in 2024 reached an all-time high, totaling $37.3 million—the highest annual trading value since 2019. The SPX also recorded the greatest number of trades executed in its history, indicating a significant upswing in market activity. Notably, there was an influx of new investors, marking the largest increase since the onset of the pandemic, which underscores renewed confidence and interest in investment opportunities.

A significant highlight of 2024 was the successful Initial Public Offering (IPO) of SUN Insurance Company Limited, becoming the SPX’s first equity listing since 2019. The enthusiastic response to the IPO demonstrated a strong demand for more listings, reinforcing the market’s capacity to support future ventures.

Additionally, SPX-listed entities declared record dividend payouts, with a total of $76 million disbursed—marking the highest annual total in the exchange’s history and pushing total dividends since 2000 to over $1 billion. The introduction of dividend reinvestment plans by 16 entities also showcased their commitment to rewarding shareholders and enhancing investor confidence.

Looking ahead to 2025, there is considerable optimism surrounding the SPX’s trajectory. The combination of growing market participation, successful public offerings, and strong dividend payouts creates a foundation for continued investment growth and engagement within the community. SPX aims to amplify public awareness of investment opportunities and encourage more companies to consider listing, paving the way for increased economic development in the region.

In summary, the Fijian stock market is exhibiting a promising outlook, characterized by heightened activity, solid returns for investors, and a supportive environment for companies seeking to enter the market. This positive development could foster a thriving economic landscape, creating more opportunities for both investors and businesses in Fiji.