The Fiji National Provident Fund (FNPF) is actively addressing the critical issue of affordable housing for its members, in light of escalating property and land prices in Fiji. During a recent member forum, Chief Investment Officer Naibuka Saune highlighted the difficulties that many members encounter in securing adequate housing.
Saune explained that the FNPF is exploring developmental opportunities, particularly referencing a recent collaboration with Fletcher Higgins, a reputable developer. This partnership aims to work alongside agencies like the Asian Development Bank (ADB) to find viable solutions for providing affordable homes to members.
This initiative is part of FNPF’s overarching strategy to enhance its services while directly responding to members’ housing challenges. Saune stressed the urgency of this crisis, stating, “That’s a serious issue, a problem that we currently face, but we assure you that we are looking into ways and opportunities to explore this further.”
In addition to focusing on affordable housing, the FNPF is making notable investments to strengthen its portfolio, including share acquisitions in Future Farms (known for Rooter Chicken) and Fletcher Higgins. This diversified investment strategy is essential for maintaining the organization’s financial health, which is vital for supporting its members’ well-being.
The FNPF has also reported impressive growth in its investment portfolio, which is now valued at around $10.6 billion, marking an 11.6 percent increase from the previous year. This growth has been supported by strategic investments across various sectors, enhancing FNPF’s ability to serve its members more effectively.
The organization’s commitment to tackling affordable housing issues and diversifying its investments presents a promising outlook for FNPF members. This proactive approach not only aims to improve living conditions but also ensures financial stability for members’ retirement, fostering hope and confidence within the community about future prospects.
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