The iTaukei Land Trust Board (TLTB) is investing nearly half a million dollars into enhancing its loan management capabilities, which will further support the financial needs of iTaukei landowners. The TLTB’s chief executive officer, Solomone Nata, announced that they have entered a partnership with Software Factory Ltd. (SFL) to develop a dedicated loan management system.
This investment of $434,000 aims to boost the efficiency and management of its iTaukei Development Fund Facility (TDFF), which currently has over 60 landowners participating. The new system, named Loan WorksNGX, is set to be launched next month and will provide a modern platform for managing loan applications, disbursements, repayments, and borrower performance.
Nata emphasized the need for a tailored solution to enhance support for the landowners, stating that the new system will enable better tracking of loans throughout their lifecycle, reinforcing TLTB’s goal of delivering secure and inclusive financial services. The partnership with Software Factory, a local IT firm, highlights TLTB’s commitment to supporting local businesses while ensuring the project stays within budget and meets all necessary requirements.
Additionally, TLTB’s ongoing initiatives, including the establishment of the iTaukei Development Facility and the Wealth Fund, reinforce its goal of empowering landowners financially and fostering economic growth within the iTaukei community. These projects aim to provide much-needed capital for various projects, alongside promoting sustainable practices that contribute to community well-being.
This ambitious undertaking is a significant step towards improving economic independence and ensuring that iTaukei landowners have access to reliable financial resources for their ventures. By investing in technology and local partnerships, TLTB is paving the way for a more prosperous future for the iTaukei community, underscoring the importance of innovation in driving economic resilience.
Leave a comment