The iTaukei Lands Trust Board has greenlit the creation of a parent company along with a subsidiary to lead the group’s new commercial initiatives. During their meeting last week, the board decided to launch the parent company, which will function independently.
Ifereimi Vasu, the Minister of iTaukei Affairs and chairman of the TLTB, noted that establishing this parent company and its subsidiary marks a significant advancement for the organization. He emphasized that it will enable the diversification of business operations, encourage economic empowerment among landowners, and open up new pathways for wealth generation.
Vasu explained that the initiative will support TLTB’s transition towards more extensive commercial activities aimed at creating sustainable income and long-term economic prospects for iTaukei landowners. He reassured that the Board is dedicated to ensuring these programs promote economic empowerment and boost involvement in crucial sectors, such as investment advisory, land development, and property management.
He added that the Board’s decision is in line with TLTB’s broader strategy to enhance economic participation for iTaukei landowners. The commercial division will operate independently from the core land administration tasks of TLTB, ensuring efficient governance and business operations that effectively address risks while promoting sustainable growth.
The framework for the new entities was developed in partnership with the consulting firm PricewaterhouseCoopers (PwC), which provided expert guidance on the optimal strategy for TLTB’s commercial operations.