The iTaukei Land Trust Board (TLTB) has revealed that its board has approved the creation of a holding company along with its subsidiary, marking a new phase in the organization’s commercial ventures. The new structure was developed in conjunction with the consulting firm PricewaterhouseCoopers (PwC), which provided expert guidance on optimizing TLTB’s commercial operations.
According to TLTB, the PwC report offered a comprehensive analysis of legal, financial, and operational frameworks, ensuring compliance with Fijian laws while maximizing benefits for landowners. The report emphasizes the structure’s flexibility, accommodating strategic partnerships and potential expansions into joint ventures and credit finance institutions.
Minister of iTaukei Affairs and TLTB chairman Ifereimi Vasu stated that the creation of this holding company and its subsidiary is a pivotal advancement for TLTB. He noted that it would enable the diversification of business operations, empower landowners economically, and create new wealth-generating opportunities.
The board’s resolution is in line with TLTB’s overarching strategy to enhance the economic involvement of iTaukei landowners. The newly established commercial arm will function independently from TLTB’s core land administration services, ensuring effective governance and business operations to mitigate risks and promote sustainable growth.
TLTB emphasized that this development will facilitate a shift towards broader commercial activities aimed at generating sustainable income, creating long-term economic opportunities, and fostering wealth for iTaukei landowners. Currently, TLTB manages 91 percent of Fiji’s total land area on behalf of 7,747 iTaukei landowning units, which are leased to over 53,000 tenants. The organization collects more than $53 million in annual lease rentals and distributes approximately $100 million annually to landowners.
The new subsidiary holding company will ensure that a portion of these funds is reinvested to promote economic empowerment and enhance landowners’ participation in crucial sectors such as investment advisory, land development, and property management.